Toronto, Canada – Investors in Toronto-listed shares are eagerly awaiting the Bank of Canada’s decision on interest rates, scheduled for Wednesday. Analysts broadly expect the central bank to keep rates unchanged.
At midday today, the Canadian market showed a slight decline, led by the materials, energy, and tech sectors. However, gains were observed in health tech, consumer services, and process industries.
The S&P/TSX Composite Index, a key benchmark for the Canadian market, was down 0.20% at 20411.42. The blue-chip S&P/TSX 60 also experienced a marginal drop of 0.09% to 1230.33.
Among the major market movers, Argonaut Gold witnessed an 11% decline in its share price, settling at 38 Canadian cents (28 cents). The mining company announced plans to raise C$80 million through a public offering, with the proceeds intended for the development of its Magino mine in Ontario and Florida Canyon in Nevada.
Brookfield Asset Management is facing rejection from Origin Energy shareholders after its consortium’s $11 billion bid for the Australia-based company. As a result, Brookfield’s Toronto-listed shares dipped by 1.4% to C$47.95 as they consider their next steps.
On a positive note, GoldMining saw its shares rise by 8% to C$1.35 following its announcement to advance a uranium project in the Athabasca Region of Alberta. The company aims to capitalize on the current elevated price of uranium.
