By Adriano Marchese
Stocks in Toronto were moderately lower in midday trading Tuesday, outpaced by declines in U.S. markets. In the session, only Canada's materials sector posted a meaningful gain, followed by shallow increases in the industrial services and finance sectors. Process industries was the outsized laggard, followed by technology services and energy. Shares of Solaris Resources Inc. fell after Equinox Gold Corp. said it sold the majority of its stake in the company.
Canada's S&P/TSX Composite Index was down 0.6% at 20126.61. The blue-chip S&P/TSX 60 slipped 0.6% to 1218.91.
Equinox Gold said it has sold the majority of its stake in Vancouver-based copper company Solaris Resources for 70.4 million Canadian dollars ($51.8 million). Shares of Solaris were down 7.9% at C$6.55.
Other market movers:
Titan Medical Inc. shares were trading more than 26% lower at C$0.85 after the company said it will introduce cost-cutting measures and furlough staff to while it continues with a recently-launched strategic review process.
Tetra Bio-Pharma Inc. shares were 20% higher at C$0.03 after the company said that study results for its cannabinoid-derived treatment for a number of respiratory-born illnesses such as Covid-19 showed positive results when combined with another antiviral medication.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
12-06-22 1220ET
