By Toronto stocks saw a moderate decline in midday trading on Thursday, with several sectors experiencing losses. Technology services, materials, and consumer durables were among the sectors that saw the most significant declines. However, gains in health tech and transportation helped offset some of these losses.
The S&P/TSX Composite Index, Canada’s main stock index, was down 0.33% at 20,422.63 at midday. Meanwhile, the blue-chip S&P/TSX 60 fell by 0.28% to 1,225.52.
Theratechnologies, a pharmaceutical company, saw its shares decrease by 5.7% to CAD 1 ($0.76 USD). The company announced plans to consolidate its shares in an effort to increase the trading price and comply with Nasdaq listing requirements.
In other news, union leaders in British Columbia decided to cancel their planned strike after Minister of Labour Seamus O’Regan deemed it illegal without a 72-hour notice.
Additional Market Updates:
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Mullen Group, a transportation and logistics company, experienced a 1.8% slip in its shares, falling to CAD 14.98. The drop in profit for the second quarter was less than analysts had expected and was partly due to softer demand for freight and logistics services.
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Orea Mining witnessed a significant jump of 40% in its shares, rising to CAD 0.04. The company signed a new agreement with Nord Gold to acquire their 55.01% interest in the Montagne d’Or gold project in French Guiana, granting Orea Mining full ownership.
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WELL Health Technologies announced plans to acquire the clinic assets of MCI Onehealth Technologies and invest in the company to advance its artificial intelligence, data science, and rare and complex disease detection platform. Despite this announcement, WELL Health’s shares saw a decline of 2.8% at CAD 4.58.
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