Toronto Stocks Inch Lower; Calibre Mining Shares Down on B2G Stake Sale
By Adriano Marchese
Toronto-listed stocks edged lower midday trading on Friday. Most sectors were in the red, with materials, process industries and producer manufacturing stocks leading the decline. Of the few gainers, the tech services, consumer durables and retail sectors posted the most gains.
On the macroeconomic side, Canadian shoppers once again cut back on spending in May by 0.6% following a rebound the month before, a sign of the pressure household budgets continue to face with interest rates still high.
At midday, Canada's S&P/TSX Composite Index was 0.2% lower at 21549.03 and the blue-chip S&P/TSX 60 fell by 0.1% to 1287.04.
Shares of Calibre Mining were 3.2% lower at 1.80 Canadian dollars ($1.31) after B2Gold said it sold a portion of its stake in for C$139 million, taking it from 14.1% ownership to under 10%.
Other market movers:
OceanaGold shares were down 3% to C$3.25 after it said it has halted operations at its Didipio mine in the Philippines for a day after the death of a worker.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 21, 2024 12:17 ET (16:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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