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Toronto Stocks Fall; Cogeco Communications Slides on Rogers Communication Stake Sale

By Adriano Marchese


Toronto-listed stocks were firmly lower midday on Tuesday as investors digest U.S. inflation figures, which showed CPI was up 3.1% year-over-year. Most Canadian sectors were lower, led by consumer durables, energy and materials. On the gainers' side, only consumer discretionary and commercial services were ahead.

At midday, Canada's S&P/TSX Composite Index fell by 0.68% to 20179.94 and the blue-chip S&P/TSX 60 was down by 0.59% to 1220.29.

Shares of Cogeco Communications were down 6.3% at 53.49 Canadian dollars ($39.41) after Rogers Communications said it will sell all of its subordinate voting shares in Cogeco and Cogeco Communications to Quebec's provincial pension plan manager for C$829 million. Cogeco stock is up 0.6% at C$52.40 and Rogers shares are down 0.4% at C$61.40.


Other market movers:

Givex said Tuesday that it plans to launch a share-repurchase program to buy back up to 5% of its issued and outstanding share capital over the course of a one-year period.

Canadian toy company Spin Master shares fall 5.7% at C$32.50 in the wake of Hasbro's announcement that it would cut about one-fifth of its workforce amid persisting weak sales for toys and games into the key holiday shopping period.


Write to Adriano Marchese at


(END) Dow Jones Newswires

December 12, 2023 12:37 ET (17:37 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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