Toronto Stocks Edge Down; Finning Falls, Argentina Forex Hit 4Q Earnings – February 07, 2024 12:19 PM EST

Written by Adriano Marchese

Shares in Toronto were slightly lower at midday Wednesday after rallying higher on Tuesday. The biggest losers in the session were in hardware, followed by distribution services and technology. This was mainly offset by gains in technical services, transport and commercial services.

Canada's S&P/TSX composite was down 0.13% at 20,931.29, while the blue chip S&P/TSX 60 was down 0.11% at 1,262.49.

Finning International shares fell 9% to C$36.16 ($26.80) after the Canadian dealer of Caterpillar products reported a drop in fourth-quarter profit due to a sharp foreign exchange impact in Argentina.

Other market movers:

Shares of Heroux-Devtek were up 9.7% at C$16.49 after reporting better-than-expected third-quarter profit and revenue as the company adjusted pricing and tried to stabilize production systems.

Shares of Brookfield Asset Management were down 1.4% at C$52.82 after reporting a drop in fourth-quarter profit, while revenue rose slightly in line with expectations.

ATS said that volatility in its end markets may affect the booking of orders. Shares fell 1.6% to C$57.98, moderated from early morning lows. to Adriano Marchese at [email protected]

(End) Dow Jones Newswires

07/02/24 1218ET