Monday, July 6th30.4°C
25936
25017

Metal prices firm up

The Canadian dollar was higher Wednesday amid mixed commodity prices and optimism that there is more willingness on the part of China's new leadership to support the economy.

The currency rose by 0.07 of a cent to 100.75 cents US.

The catalyst to the optimism across the markets was a Chinese government pledge to maintain policies intended to strengthen the economy and an expression of willingness to "fine tune" them and make them more effective.

There were also reports that the government lifted investment limits for insurance companies and that the new Chinese leadership will remain focused on urbanization, which could ramp up infrastructure spending.

China has been a major prop for a global economy still trying to recover from the financial collapse and subsequent recessions of 2008. Signs of stimulus are welcome because the Chinese government had to take steps to weaken the economy over the last couple of years to deal with higher than acceptable inflation.

Oil prices lost early momentum as data showed a much higher than expected rise in U.S. gasoline inventories last week and the January crude contract on the New York Mercantile Exchange lost 59 cents to US$87.91 a barrel.

March copper added two cents to US$3.68 a pound. China is the world's biggest consumer of the metal, viewed as an economic bellwether because it is used in so many industries.

The February gold contract faded $5.40 to US$1,690.40 an ounce.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14593.57-88.82
S&P CDNX663.33-7.25
DJIA17683.58-46.53
Nasdaq4991.94-17.27
S&P 5002068.76-8.02
CDN Dollar0.7906-0.0028
Gold1167.30+4.30
Oil53.30-4.31
Lumber285.00-3.50
Natural Gas2.758-0.064

 
Okanagan Companies
Pacific Safety0.175+0.005
Knighthawk0.010.00
QHR Technologies Inc1.52+0.00
Cantex0.05+0.02
Anavex Life Sciences0.52+0.06
Metalex Ventures0.065-0.010
Russel Metals22.39-0.39
Copper Mountain Mining1.09-0.08
Colorado Resources0.08-0.01
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.035-0.005
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 





FEATURED Property
23477262070 Boucherie Rd
2 bedrooms 3 baths
$317,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_



26376




Member of BC Press Council


25831