By Adriano Marchese
Stocks in Toronto pared back gains from the previous day mid-trading on Friday as earnings season continues among Canadian companies. Industrial services, energy and transportation were the biggest losers in the session, while health services and health tech saw some gains. Shares in TransAlta Renewables Inc. fell after it said it had to shut down around 50 turbines at two sites in New Brunswick due to a collapsed tower that will cost the company millions a month in forgone revenue.
Canada's S&P/TSX Composite Index was down 0.30% at 21134.92 and the blue-chip S&P/TSX 60 slid 0.23% to 1271.24.
TransAlta Renewables Inc. were down 4.9% to C$18.28 after it said that wind turbines at two sites in New Brunswick have been taken offline due to a collapsed tower, and the company expects it will have to forgo about 3.7 million Canadian dollars, or US$3 million, in revenue a month until they are returned to operation.
Other market movers:
Shares in Cameco Corp. fell 5.2% at C$29.81 after reporting a widened loss in the third quarter, and said it expects supply constraints to continue to hamper fuel services production for the year.
SNC-Lavalin Group Inc. shares slid 7.2% to C$32.99 despite reporting a swing to profit and rising revenue in the third quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
10-29-21 1220ET
