Toronto Stocks Rebound at Midday

By Maria Armental

Shares in Toronto rebounded Wednesday on broad-based gains across sectors, although Millennial Lithium Corp. ran against the trend.

At midday, the benchmark S&P/TSX Composite Index traded 0.3% higher at 20233.21, and the blue-chip S&P/TSX 60 was also up by 0.4% at 1214.32.

Tesla Inc. supplier Contemporary Amperex Technology Co. has made a C$3.85-a-share offer for Millennial Lithium Corp. in an all-cash deal worth about C$377 million (US$297.1 million). Millennial Lithium traded about 1.9% lower at midday.

Other market movers:

Toymaker Spin Master Corp. has entered into an agreement with a group of lenders to amend and restate its existing credit facility. Under the agreement, Spin Master's US$510 million, five-year secured credit facility was amended and restated as an unsecured, five-year revolving facility of the same amount. The new maturity date is Sept. 28, 2026. Spin Master's subordinate voting shares traded about 1.5% lower.

Agnico Eagle Mines Ltd. and Kirkland Lake Gold Ltd. rose about 3.5% and 4.3%, respectively, a day after disclosing a deal to merge.

   Write to Maria Armental at [e-mail] 
 

(END) Dow Jones Newswires

09-29-21 1229ET