In midmorning trading on Tuesday, stocks in Toronto saw a slight decline. Losses in consumer durables, health technology, and communication were the main contributors to this downward trend. However, advances in the technology and materials sectors served to mitigate some of the losses.
Key Market Indices
The S&P/TSX Composite Index slipped 0.13%, currently standing at 20555.23. Likewise, the blue-chip S&P/TSX 60 experienced a decline of 0.23%, reaching a value of 1234.08.
Volatile Times for Volt Lithium
Volt Lithium, a notable player in the market, witnessed a significant drop in its stock price. With shares falling by 17% to 22 Canadian cents (17 cents), the company recently announced its plans to raise C$6 million through a marketed public offering of its units.
Other Noteworthy Market News
Amerigo Resources, on the other hand, saw a positive uptick, with its shares rising by 2.6% to C$1.56. The company reported that its operations in Chile have returned to full production levels following power outages caused by flooding.
In contrast, IntelGenx experienced a decline in its stock price, with shares falling by 4.4% to C$0.22. The company has commenced production for an 18-month clinical study that aims to investigate the use of its Montelukast VersaFilm for the treatment of Parkinson’s disease. This initiative is part of a research grant agreement entered into with Sweden’s Karolinska University Hospital.