Toronto Stocks Down; Theratechnologies Falls After Going Concern Warning
By Adriano Marchese
Stocks in Toronto were in the red at midday on Tuesday, putting them in step with U.S. indexes pressured by lower-than-expected consumer confidence results for September.
The S&P/TSX Composite Index fell 1% to 19603.29 and the blue-chip S&P/TSX 60 was down 0.97% to 1175.86.
The decline in shares was led by the consumer durables, transportation and health services sectors. Health technology and energy minerals were the only sectors to post gains.
An early estimate indicates that sales in the manufacturing sector may have risen by 1% in August, according to Statistics Canada.
Theratechnologies shares dropped 8.5% to 2.57 Canadian dollars ($1.91). The biopharmaceutical company said there were doubts about its ability to continue as a going concern, and narrowed its revenue target for the fiscal year.
Other market movers:
Shares of Fission Uranium fell 4.3% to C$0.89 after it disclosed plans to raise C$8 million by way of a bought deal financing to fund exploration operations.
K92 Mining shares were up 2.2% to C$5.94 following the news it had secured a $100 million loan from commodities trader Trafigura. The company also amended a deal for the copper and gold concentrates produced at its Kainantu mine in Papua New Guinea.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 26, 2023 12:45 ET (16:45 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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