Toronto Shares Dip Despite Previous Day's Gains

The Toronto stock market saw a slight decline midday Wednesday after a positive finish on Tuesday. The tech sector suffered the highest losses, followed by distribution services and process industries. However, gains in tech services, transportation, and commercial services helped offset these losses.

By midday, Canada's S&P/TSX Composite Index had fallen 0.13% to 20,931.29, while the blue-chip S&P/TSX 60 dropped 0.11% to 1,262.49.

Finning International shares experienced a significant retreat, decreasing by 9% to 36.16 Canadian dollars ($26.80). The decline came after the Canadian dealer for Caterpillar products reported lower fourth-quarter profits, mainly due to a substantial foreign currency impact in Argentina.

Here are some other notable market movements:

• Heroux-Devtek shares rose by 9.7% to C$16.49 after reporting better-than-expected profit and revenue in the third quarter. The company attributed the positive results to adjusted pricing and improved production systems.
• Brookfield Asset Management shares fell 1.4% to C$52.82 despite reporting a slight increase in revenue during the fourth quarter. Profit, however, declined in line with expectations.
• ATS noted that volatility in its end-markets could impact its order bookings. As a result, shares were down 1.6% to C$57.98, though they moderated from earlier lows in the morning.

It's worth noting that these stock market figures are subject to change throughout the day.