By Adriano Marchese
At midday on Friday, Toronto-listed stocks showed little change from Thursday’s closing prices, reversing earlier gains made in the morning.
Canadian Wholesale Trade Continues to Recover
An initial estimate of Canadian wholesale trade for July suggests an ongoing recovery, largely driven by sales in the motor vehicle and parts sector. Most sectors experienced positive growth, with technology services, process industries, and energy leading the way. However, there were declines in materials, financials, and health tech.
S&P/TSX Composite Index and S&P/TSX 60 Show Minimal Movement
The S&P/TSX Composite Index rose by 0.09%, reaching 19,793.29 points, while the blue-chip S&P/TSX 60 saw a slight increase of 0.03%, reaching 1,184.42 points.
Edison Lithium’s Shares Surge
Shares of Edison Lithium experienced a significant boost, rising by nearly 12% to 14 Canadian cents (10 U.S. cents). This increase followed an announcement by Globex Mining Enterprises stating that they would sell their assets in Saskatchewan to Edison in exchange for cash and stock.
Globex Mining Enterprises Sees Stock Decline
Conversely, shares of Globex Mining Enterprises witnessed a decline of approximately 1.2% due to the aforementioned deal with Edison Lithium.
Inovalis Real Estate Investment Trust Appoints New President and CEO
Stephane Amine has been appointed as the new president and chief executive officer of Inovalis Real Estate Investment Trust. Amine is currently the manager of the REIT and the founder of asset management company Inovalis SA. As a result, shares in the company have risen by 0.6% to C$3.35.
