Toronto Stocks Continue Slide; Consolidated Uranium Shares Rise, IsoEnergy Stock Falls on Merger
By Adriano Marchese
Stocks in Toronto were lower in midday trading Wednesday after a brief and slight rise earlier in the morning. The utilities, communications and materials sectors were posting the greatest declines, offsetting gains primarily in tech and energy.
Canada's S&P/TSX Composite Index fell by 0.36% to 19486.20. Meanwhile, the blue-chip S&P/TSX 60 was down 0.41% to 1168.84, erasing all gains the index had made in 2023.
IsoEnergy and Consolidated Uranium have agreed to a share-for-share merger to create one of the world's largest globally diversified uranium companies with projects in prolific uranium jurisdictions. On the news, IsoEnergy shares fell by 11% to 4.28 Canadian dollars ($3.17), while shares of Consolidated Uranium rose by 8.9% to C$2.08.
Other market movers:
A.G.F. Management shares rose by 2% to C$7.33 after it reported a rise in third-quarter profit thanks to higher revenue and assets under management which continued to grow in the period.
Shares in Eminent Gold were 7.4% higher at C$0.29 after it said that it has acquired a new property in Nevada with over 100 gold deposit claims over 890 hectares of land.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 27, 2023 12:17 ET (16:17 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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