Toronto Stocks Rise Ahead of U.S. Inflation Report

Published by Adriano Marchese

Toronto stocks saw gains in midday trading on Monday as investors eagerly awaited the release of the U.S. inflation report scheduled for Tuesday. While some sectors, such as consumer durables, consumer discretionary, and tech, experienced a downward trend, this was offset by gains in commercial services, tech services, and materials.

The S&P/TSX Composite Index of Canada rose by 0.439% to reach 19,751.63, and the blue-chip S&P/TSX 60 climbed by 0.59% to reach 1,191.02.

First Quantum Minerals: Scaling Back Operations Amid Protests

Shares of First Quantum Minerals fell by 3.5% to 15.72 Canadian dollars ($11.39) after announcing that it has scaled back certain operations at its copper mine in Panama due to ongoing protests blocking passage at the nearby Punta Rincon port.

Other Market Movers:

• Neighbourly Pharmacy: Shares dropped by 8.4% to C$16.99 after a takeover deal with majority owner Persistence Capital Partners faced a delay.
• Dye & Durham: Shares surged by 13% to C$12.23 following the company's announcement that it will review strategic options and consider selling noncore assets amid concerns over high debt levels.
• Else Nutrition: Shares skyrocketed by over 75% to C$0.57 as the company revealed plans for a collaboration with Danone, which will involve adding its plant-based, soy-free products to Danone's portfolio.