Toronto Stocks Decline as Mining, Financial Shares Retreat

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By Robb M. Stewart

Stocks in Toronto were again lower Wednesday as mining and finance names weighed, tracking market weakness on Wall Street.

In midday trading, the S&P/TSX Composite Index was down 0.4% at 20798.11 and the blue-chip S&P/TSX 60 was 0.3% weaker at 1257.39, building on declines Tuesday following the long weekend. A rebound in technology stocks and strength in shares of energy companies helped limit the weakness.

Among the miners, Barrick Gold was 3.2% lower, Agnico Eagle Mines was down 2.6% and Teck Resources shed 0.6%.

The big Canadian bank stocks were each in the red, led by declines of 1% in shares of Bank of Nova Scotia and Toronto-Dominion Bank.

Other market movers:

Electrovaya’s shares jumped 5.9% to C$4.31 after the lithium-ion battery manufacturer forecast another year of strong revenue growth backed by increasing order backlogs and new products.

Orea Mining slumped 25% to C$0.02…

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