By Adriano Marchese
Stocks in Toronto were down at midday Wednesday, with the S&P/TSX Composite Index down 172.50 points in the session. Gains in process industries and communications stocks were offset by losses in distribution services and tech. Shares of Capital Power Corp. fell on the news that performance in the third quarter suffered as one of its power stations is undergoing repairs from a generator failure in the summer.
At mid-trading, Canada's S&P/TSX Composite Index was down 0.89% at 20986.88. The blue-chip S&P/TSX 60 slipped 0.81% to 1260.56.
Capital Power Corp. shares were down 5.7% at C$40.26 after it said profit and revenue fell in the third quarter as one of its power stations undergoes longer-than-expected repairs from a generator failure in July.
Other market movers:
Shares in Chesswood Group Ltd. were 2% higher at C$13.25 after announcing it agreed to acquire finance company Rifco Inc. in a deal valued at 28 million Canadian dollars, or roughly US$22.6 million.
Write to Adriano Marchese at email@example.com
(END) Dow Jones Newswires