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Canadian Financial Close: Stock market rebounds after wild day

WINNIPEG, Feb. 6 (CNS Canada), Feb 06, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

WINNIPEG, Feb. 6 - The Canadian dollar closed lower Tuesday despite a rebound on the stock market.

The Canadian dollar settled Tuesday at US$0.7981 or C$1.2530, compared to Monday's North American close of US$0.8011 or C$1.2483.

Oil prices fell for a third straight day on Tuesday as the United States dollar rose to its highest value in more than a week in the wake of a sharp sell-off on Wall Street and other stock markets. Brent crude futures were down 60 cents to US$67.02 per barrel.

Wall Street rebounded in volatile afternoon trading Tuesday, with major indexes rising more than one per cent following the largest one-day drops for the S&P 500 and Dow Jones in more than six years on Monday. Stocks swung from negative to positive indexes throughout the session with the Dow having a more than 1,000 point difference between its highest and lowest points Tuesday.

The Dow Jones Industrial Average added 569.32 points, or 2.34 per cent, to 24,915.07. The S&P 500 rose 46.31 points, or 1.75 per cent, to 2,695.25 and the Nasdaq Composite rose 148.36 points, or 2.13 per cent, to 7,115.88.

In Toronto, the TSX/S&P Composite Index closed higher Tuesday, reversing earlier declines and following a similar turnaround on Wall Street. The TXS/S&P rose 29.12 points, or 0.19 per cent, to 15,363.93.

     Canada's agricultural sector performed as follows:
     AGT Food and Ingredients-----up  $ 0.18    at $ 21.14
     Buhler Industries------------dn  $ 0.18    at $  4.15
     Maple Leaf Foods-------------up  $ 0.16    at $ 33.97
     Nutrien Ltd.-----------------dn  $ 1.76    at $ 58.67

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