Toronto Stocks Edge Lower; Western Copper Rises on C$21.3M Mitsubishi Materials Investment
March 24, 2023 at 12:00 p.m. ET
By Adriano Marchese
Stocks in Toronto were trending lower mid-trading on Friday, at risk of posting a third-straight week of declines. Canada’s financial sector continues to feel pressure from global banking concerns, while declines in the producer manufacturing and commercial services sectors also weighed on indexes. Technology services was the only notable gainer in the session.
Canada’s…
By Adriano Marchese
Stocks in Toronto were trending lower mid-trading on Friday, at risk of posting a third-straight week of declines. Canada’s financial sector continues to feel pressure from global banking concerns, while declines in the producer manufacturing and commercial services sectors also weighed on indexes. Technology services was the only notable gainer in the session.
Canada’s S&P/TSX Composite Index slipped 0.42%, to 19378.72, and the blue-chip S&P/TSX 60 edged 0.34% lower, to 1164.16.
Shares of Western Copper & Gold Corp. rose 1.5%, to 2.40 Canadian dollars ($1.75), after it said Mitsubishi Materials Corp. made a strategic investment in the company for C$21.3 million to support Western Copper’s copper-gold project in the Yukon.
Other market movers:
Canadian asset manager Onex Corp. Canada and Royal Bank of Canada have agreed to move Onex’s private wealth management advisory teams to RBC Wealth Management Canada. Onex shares were down 2.5%, at C$63.47.
Write to Adriano Marchese at adriano.marchese@wsj.com
