By Adriano Marchese
Stocks in Toronto were slightly lower as investors await the Canadian central bank's decision on interest rates on Wednesday. Analysts largely expect rates to remain unchanged at 5%.
Mixed Sector Performance
Sector performance in Canada was mixed, with declines logged primarily in health services, health tech, and commercial services, offset by gains mainly in consumer discretionary stocks. Tech services and transportation also saw gains.
At midday, Canada's S&P/TSX Composite Index was down 0.11% to 20883.18, and the blue-chip S&P/TSX 60 fell by 0.15% to 1260.42.
Arizona Metals Plans Split to Create New Companies
Shares of Arizona Metals were higher mid-morning Monday after the company announced its plans to split and create two new companies based around its operations in Arizona. This move aims to create the Sugarloaf Peak gold project and establish two royalties on its Kay Mine project.
Other Market Movers
- Shares of Salazar Resources and Adventus Mining rose after receiving an environmental license for their project in Ecuador.
- Salazar Resources saw a 36% increase in shares to C$0.08, while Adventus Mining shares rose by 7.4% to C$0.29.
Mineros Expects Decrease in Gold Production
Mineros stated that it expects a decrease in gold production in 2024 following the sale of an Argentinian subsidiary. This led to a decrease of 2.9% in shares, reaching C$0.66.
Our Latest News
Macy’s disputes with Arkhouse Management over proxy contest. Rejected proposal, lack of financing details, market reaction.
Wheat prices fall due to uncertainty about Black Sea wheat. Ukrainian farmers find alternative transport routes to export globally. Soybean and corn prices rema...
Analysts expect Nidec's net profit to decline by 19% and revenue to increase by 9.9% in the second quarter. Investors focus on EV motor sales, profit margins, a...