Toronto Stocks Retreat, Canadian Uranium Producers Rise on Constellation Energy's Nuclear Plant Plans

By Adriano Marchese

Stocks in Toronto pared some of the previous day's gains after the enthusiasm generated from the U.S. interest-rate cut sent markets higher.

Most sectors were in the red on Friday. Consumer durables, manufacturing and process industries stocks were the major laggards. Only commodities stocks made any notable gains.

Canada's S&P/TSX Composite Index were 0.4% lower at 23777.17 and the blue-chip S&P/TSX 60 fell by 0.4% to 1426.18.

A big part of the commodities share rise was thanks to Canadian uranium producers, which got a boost after Constellation Energy said it would restart Pennsylvania's Three Mile Island nuclear plant. The move is part of an energy supply contract with Microsoft to help power its growing artificial intelligence ambitions.

Cameco shares rose by 8.2% to 60.21 Canadian dollars ($44.40), NexGen Energy rose 5.2% to C$8.52, Denison Mines climbed by 4.7% to C$2.25 and Energy Fuels increased by 5.8% to C$7.10.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

September 20, 2024 12:37 ET (16:37 GMT)

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