Saturday, December 20th1.2°C
24295
24285

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

23041


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


24304

FEATURED Property
2044720#115 1750 Lenz Road,
2 bedrooms 2 baths
$314,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24111

24437


Member of BC Press Council


23895