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Toronto Stocks Advance; Hudbay Minerals Rises on New Fundraising Deal With Marubeni

By Adriano Marchese


Toronto-listed stocks were firmly higher in midday trading on Wednesday thanks to a broad-based push among Canada's sectors. Materials was the biggest gainer, followed by energy and process industries. Of the few decliners, communications, producer manufacturing and utilities stocks posted the biggest losses in the session.

At midday, Canada's S&P/TSX Composite Index rose by 0.80% to 22005.77 and the blue-chip S&P/TSX 60 was 0.80% higher at 1328.80.

Hudbay Minerals' shares were 6.6% higher at 9.19 Canadian dollars ($6.81) after the copper mining company said it struck a deal with Japanese trading company Marubeni to raise funding for exploration in Canada.


Other market movers:

Aclara Resources' advanced by 33% to C$0.52 after the development-stage resources company secured an investment of up to as much as $80 million for its Chilean subsidiary from resources-sector holding company CAP to help advance its rare earths activities in South America.

Transcontinental shares were higher by 1.5% at C$14.44 after the company said cost-reduction efforts have supported profitability in its first fiscal quarter, and that it expects to generate more cash flow by the end of the year.


Write to Adriano Marchese at


(END) Dow Jones Newswires

March 13, 2024 12:19 ET (16:19 GMT)

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