Loonie does U-turn
Sep 27, 2012 / 7:17 am
The Canadian dollar gained back some ground Thursday morning as commodity prices moved higher amid expectations of a move by China to stimulate its economy.
The loonie gained 0.22 of a cent to 101.72 cents US.
Meanwhile, the benchmark New York oil contract was $1.20 ahead at US$91.19 a barrel, the December gold contract added $10.10 to US$1,763.70 an ounce and the December copper contract rose three cents to US$3.74 a pound.
Improved sentiment is being helped by expectations the People's Bank of China will soon take more steps to ease a slowdown in the world's No. 2 economy.
In addition, the heads of the three parties in Greece's governing coalition have struck a basic deal on a new round of harsh austerity measures required for the country to continue getting vital rescue loans, officials said Thursday.
Finance Minister Yiannis Stournaras said the long-delayed agreement placed him in a stronger negotiating position ahead of talks Monday with representatives of the country's bailout creditors, who will have the final word on the cutbacks.
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|QHR Technologies Inc||0.57||-0.03|
|Anavex Life Sciences||0.50||-0.02|
|Copper Mountain Mining||1.75||-0.02|
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