By Adriano Marchese
Toronto-listed shares were mildly lower Monday at midday. Investors are awaiting Wednesday’s Bank of Canada decision on interest rates, with many analysts expecting the central bank to stand pat on any hikes or cuts.
In the session, materials, energy and tech were the main laggards, offsetting gains primarily in health tech, consumer services, process industries.
Canada’s S&P/TSX Composite Index was 0.20% lower at 20411.42. The blue-chip S&P/TSX 60 fell by 0.09% to 1230.33.
Argonaut Gold shares fell by 11% to 38 Canadian cents (28 cents) after the miner said it plans to raise C$80 million by way of a bought-deal public offering. It plans to use the new money to advance its Magino mine in Ontario and Florida Canyon in Nevada.
Other market movers:
Brookfield Asset Management will evaluate its next steps after its consortium’s $11 billion bid for Australia-based Origin Energy was rejected by shareholders. Shares trading in Toronto were down 1.4% at C$47.95.
GoldMining shares were 8% higher at C$1.35 after the company said it has plans to advance a uranium project in the Athabasca Region of Alberta to take advantage of the elevated price of uranium.
Write to Adriano Marchese at [email protected]
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