By Adriano Marchese
Stocks in Toronto were slightly lower mid-trading on Monday. Statistics Canada released figures on Canadian building permits and the data shows that these pulled back sharply in March. Canada is currently in a deficit with housing compared with its population growth, driven largely by immigration. The pullback is eating into the modest quarterly rebound that was led by a jump in commercial construction intentions.
At midday, Canada's S&P/TSX Composite Index was down by 0.1% to 22,292.22 and the blue-chip S&P/TSX 60 fell by 0.1% to 1,335.41.
Shares in Premium Brands Holdings were 6.2% higher at 94.67 Canadian dollars after reporting higher profit in the first quarter as U.S. performance helped drive higher revenue in the period.
Other market movers:
Bitfarms shares were down by 5.5% to C$2.24 after the bitcoin miner terminated its chief executive, Geoffrey Morphy, earlier than planned after he launched a lawsuit against the company last week.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
05-13-24 1219ET
