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Canadian Financial Close: Loonie falls as stock market volatility continues

Winnipeg, MB, February 8, 2018 (CNS Canada), Feb 08, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

WINNIPEG, Feb. 8 - The Canadian dollar fell slightly Thursday as volatility in the stock market and as drop in the price of oil weighed it down.

The Canadian dollar settled Thursday at US$0.7946 or C$1.2585, compared to Wednesday's North American close of at US$0.7971 or C$1.2546.

Oil prices hit their lowest levels in seven weeks Thursday, amid fears of rising global supplies after Iran announced plans to increase production and the United States crude output hit record highs. Brent crude fell 70 cents to US$64.81 per barrel.

Wall Street took a tumble Thursday as there were large swings throughout the session, leaving investors on edge after several days of volatile trading. Major indexes fell more than three per cent in late afternoon trading as U.S. bond yields earlier crept back up toward four-year highs.

In Toronto, the TSX/S&P Composite crumbled Thursday, closing at its lowest point in nearly five months as a sell-off on Wall Street deepened and as a drop in oil prices hit energy shares. The TSX/S&P fell 265.03 points, or 1.73 per cent, to 15,065.55.

     Canada's agricultural sector performed as follows:
     AGT Food and Ingredients-----dn  $ 0.88    at $ 19.99
     Buhler Industries------------unchanged     at $  4.15
     Maple Leaf Foods-------------dn  $ 0.38    at $ 33.79
     Nutrien Ltd.-----------------dn  $ 1.76    at $ 56.93

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