Toronto Stocks Flat; Bitfarms Up on Settlement with Riot Platforms

By Adriano Marchese

Toronto stocks were virtually flat in midday trading Monday. Sector performance was mixed in Canada, with gains mostly in utilities, energy and industrial services offset by losses primarily in health services, communications and tech.

On the housing front, new-house prices held steady in August after edging up 0.2% in July, another sign that Canada's property market remains in limbo despite recent cuts in interest rates.

At midday, Canada's S&P/TSX Composite Index was flat at 23864.14 and the blue-chip S&P/TSX 60 remained unchanged at 1431.39.

Shares in Bitfarms rose 2.8% to 2.80 Canadian dollars ($2.06) after it agreed to changes to its board, including the resignation of a co-founder, to settle a dispute with Riot Platforms three months after Riot dropped its rejected bid for the bitcoin miner.

Other market movers:

Cosciens Biopharma shares fell 11% to C$4.93 after it said it will discontinue research into its ALS treatment as management continues to look for cost cuts across the company.

First Quantum Minerals suspended operations in an area of its Kansanshi copper mine in Zambia following the death of a worker. Shares fell 0.5% to C$17.75.

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

(END) Dow Jones Newswires

September 23, 2024 12:20 ET (16:20 GMT)

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