By Adriano Marchese

Toronto-listed stocks were hovering around flat Tuesday at midday with little change throughout the morning of the first trading day following the Family Day long weekend.

Canada's annual inflation rate cooled more sharply than expected in January to 2.9% as consumers paid less for gasoline while seeing the pace of grocery-price increases continue to slow.

Most sectors were in the red in the session, with outsized losses booked in the process industries, consumer durables and producer manufacturing sectors. These were offset by gains primarily in health tech, commercial services and communications.

Canada's S&P/TSX Composite Index edged 0.04% lower, to 21248.09, while the blue-chip S&P/TSX 60 inched forward by 0.12%, to 1284.67.

Shares in SSR Mining were 8.3% lower in Toronto, down to 6.05 Canadian dollars (US$4.48) after the company said that a number of its staff are facing charges while its environmental permit was revoked after nine workers went missing following a landslide at its operation in Turkey.

Other market movers:

Axis Auto Finance shares were 20% higher, at C$0.09, after the fintech company said that it would consider a sale as part of a broader strategic review.

Horizonte Minerals' shares were down by nearly 59%, to C$0.04, after the mining company warned the spending needed to complete the more advance of its two projects in Brazil has more than doubled.

Dundee Precious Metals shares rose by 5.7%, to C$8.71, after it said the company won't make another propose a higher bid for Osino Resources in response to a greater offer from a foreign-based company.

Write to Adriano Marchese at

(END) Dow Jones Newswires

02-20-24 1222ET