Stocks in Toronto Dip as Consumer Durables, Energy, and Utilities Weigh on Indexes
Stocks in Toronto dip as consumer durables, energy, and utilities weigh on indexes. Technology and health tech sectors show gains. ProMIS Neurosciences shares surge on positive preclinical data for Alzheimer's treatment.
Troy D. Hanson
August 20, 2023
In midday trading on Monday, stocks in Toronto experienced a mild decrease as consumer durables, energy, and utilities stocks put pressure on the indexes. However, the technology and health tech sectors showed some gains.
At midday, Canada's S&P/TSX Composite Index was down 0.20% at 20222.30, while the blue-chip S&P/TSX 60 dipped 0.25% to 1214.53.
ProMIS Neurosciences Shares Surge After Positive Preclinical Data on Alzheimer's Treatment
ProMIS Neurosciences saw its shares more than double to 8.23 Canadian dollars ($6.23) after revealing additional positive preclinical data that supports the potential therapeutic benefits of its lead candidate in treating Alzheimer's disease.
Other Notable Market Movements
Parex Resources witnessed a 6.3% decrease in shares, trading at C$27.16, as the company announced the abandonment of one of its wells in a Colombian project due to confirmation of no economic hydrocarbons at the site.
Lion Electric, a Toronto-listed company, experienced a jump in shares during early trading after securing approximately $142 million in combined financing. Its shares were up 9.7% at C$3.05.