Toronto Stocks Edge Up; Cineplex Shares Fall on C$39 Million Fine

By Adriano Marchese

Toronto's indexes were mildly higher midway through the session Tuesday. Most sectors were pushing the indexes higher, with materials, energy and manufacturing stocks leading the climb. Only tech-services, communications and consumer-services stocks showed any notable losses.

On the economic front, an advance estimate shows Canadian factory trade in August fell by 1.5%, led by a fall in sales of petroleum and coal products as well as primary metals.

Canada's S&P/TSX Composite Index edged 0.3% higher to 23958.22. The blue-chip S&P/TSX 60 rose by 0.2% to 1436.13.

Cineplex shares were down 3.3% to 10.59 ($7.82) after regulators ordered the Canadian movie theater chain to pay a fine of C$39 million for adding extra fees onto online and mobile ticket purchases, a deceptive practice called drip pricing.

Other market movers:

Denison Mines shares rose 1.9% to C$2.42 after it said it struck a deal that could see it sell a majority stake in 10 uranium exploration properties in Saskatchewan's Athabasca Basin to Foremost Lithium Resource & Technology for up to C$30 million.

Dye & Durham said Tuesday that it intends to make an early repayment of C$20.3 million towards its senior secured loan in the coming days amid recent calls to curb spending. Shares rose 0.8% to C$15.92.

Canadian Imperial Bank of Commerce has been hit with more than $40 million in penalties from U.S. authorities for record-keeping failings. Shares were virtually flat at C$83.13.

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

(END) Dow Jones Newswires

September 24, 2024 12:22 ET (16:22 GMT)

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