Market Update: Toronto-Listed Stocks Flat on First Trading Day Post Long Weekend
Toronto-listed stocks remained relatively unchanged Tuesday midday, as trading resumed after the Family Day long weekend. The day saw minimal movement in most sectors, with notable shifts in specific industries.
Inflation Rate Cools More Than Expected in Canada
Canada’s annual inflation rate dropped to 2.9% in January, a more significant decline than anticipated. Decreases in gasoline prices and slower grocery-price increases contributed to this cooling trend.
Sector Performance:
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Negative Performance: Process industries, consumer durables, and producer manufacturing sectors experienced substantial losses.
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Positive Performance: On the flip side, health tech, commercial services, and communications sectors saw gains.
Key Stock Movements:
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SSR Mining: Shares tumbled by 8.3% to C$6.05 following charges against staff and an environmental permit revocation in Turkey.
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Axis Auto Finance: The fintech company’s shares surged by 20% to C$0.09 amidst considerations for a potential sale.
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Horizonte Minerals: Shares plummeted by almost 59% to C$0.04 after increased spending estimations for a Brazilian project.
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Dundee Precious Metals: Stock rose by 5.7% to C$8.71 as the company decided not to counter a competing offer for Osino Resources.
Stay updated with the latest market trends for potential investment opportunities.
