By Toronto-listed stocks experienced a decline at midday on Friday, following a 0.7% rise in Canadian equities on Thursday. During the mid-session, most sectors saw losses, particularly in energy, communications, and commercial services. However, the process industries sector stood out with modest gains.
Foreigners and nonresident investors sold a net 15.75 billion Canadian dollars ($11.75 billion) in Canadian securities in October, according to Statistics Canada. This marks the largest selloff since March.
The S&P/TSX Composite Index of Canada dropped by 0.66%, while the blue-chip S&P/TSX 60 fell by 0.61% to 1245.99.
Neo Performance Materials aims to enhance rare-earth operations in Estonia
Neo Performance Materials is planning to boost the performance of its rare-earth operations in Estonia through employee restructuring. As a result, the company anticipates incurring charges in its fourth-quarter earnings, including a noncash charge of up to $3 million for impairment of assets and employee restructuring costs of less than $1.5 million. However, the savings generated should offset these costs within a year. The company’s shares saw a 1.1% increase, reaching C$7.47.
Baylin Technologies subsidiary secures new orders
Shares of Baylin Technologies rose by 5.4% to C$0.20 as its subsidiary secured 2.5 million Canadian dollars ($1.9 million) in new orders.
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