Toronto Stocks Nudge Higher as Markets Await Jobs Data
By Robb M. Stewart
Stocks trading in Toronto were up slightly Thursday, with no direction offered from U.S. markets that were closed for Independence Day and investors in both countries bracing for jobs data at the end of the week.
In midday trading, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.1% higher at 22251.01. Technology stocks led broad gains, countering weakness in the finance sector.
The blue-chip S&P/TSX 60 was ahead 0.1% at 1327.45
Goeasy was one of the biggest drags on the market by volume, falling 8.2% to C$188.20 after the leasing and lending-services company said Chief Executive and President Jason Mullins would transition out of the role at the end of the year.
On Friday, investors will be focused on U.S. non-farm payroll data for further signals as to when the Federal Reserve might begin cutting interest rates. Canada also will see the release of employment figures for June, which will be a key set of data that could help determine whether the Bank of Canada follows up with another rate cut late this month.
Other market movers:
Victoria Gold's shares were halted with the release of an announcement the miner was withdrawing its production and cost guidance for 2024 and had received noticed of default from its lenders as output at its gold mine in northern Canada remained suspended. The shares were last up 32% at C$1.15.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 04, 2024 12:31 ET (16:31 GMT)
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