Toronto Stocks Edge Lower; Stelco Rises on Agreement with Primobius

By Adriano Marchese

Toronto stocks were down Friday midday, with most sectors in red territory in the last session of the week and of 2021, while tech and health technologies posted gains. Stelco Holdings Inc. shares rose after it announced an agreement with Primobius GmbH to commercialize electric-vehicle battery recycling and processing technologies in North America.

Canada's S&P/TSX Composite Index fell 0.43% to 21204.19 mid-trading while the blue-chip S&P/TSX 60 was down 0.44% to 1286.73.

Shares in Stelco Holdings Inc. rose 4.4% to C$40.65 after it said it plans to secure end-of-life electric vehicles to source scrap steel feedstocks and recycle lithium-ion batteries through a proposed integrated 20,000-net-ton-per-year operation at Lake Erie Works, on Lake Erie's north shore.

Other market movers:

NextPoint Financial Inc. shares rose 7.7% to C$5.49 after it said it acquired Chicago-based tax-related services company Community Tax LLC for $90 million.

Shares in Enbridge Inc. edged 0.5% lower to C$49.01 after announcing that it will purchase up C$1.5 billion worth of shares for cancellation over the next year.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

12-31-21 1215ET