Loonie, crude rally; China's main stock index falls on inflation report

By: THE CANADIAN PRESS TORONTO - North American markets will be digesting the impact on the latest inflation readings from China and Europe and the potential impact of a conflict between Russia and Georgia on global oil supplies. The Canadian dollar opened at 93.75 cents US, up 0.06 of a cent from Friday's close. The loonie fell 1.28 cents on Friday to 93.69 cents US, near its lowest levels since last August. China's benchmark Shanghai Composite Index fell 5.2 per cent Monday following the release of economic data showing wholesale price inflation jumped to its highest level in 12 years in July. China's Shanghai index closed at 2,470.07 on Monday, down 135.65 points. That was its lowest close in more than a year and a half. Crude rose Monday as investors grew worried that the conflict between Russia and neighbouring Georgia... [read full story]