TSX Declines; Saputo Has Worst Day in 3 Years; Canadian Labour Market Weakens By Investing.com

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TSX Declines; Saputo Has Worst Day in 3 Years; Canadian Labour Market Weakens

Published Jun 09, 2023 14:23

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TSX Declines; Saputo Has Worst Day in 3 Years; Canadian Labour Market Weakens

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By Ketki Saxena

Investing.com -- The TSX continued to decline by afternoon trading, as Canadian job data sparked worries about an economic slowdown coupled with rising inflation.

The Biggest Stories on Bay Street

Saputo (TSX:SAP) faced its worst day in over three years. The food processing company announced that it anticipates negative impacts on its international division due to reduced product prices within the upcoming year.

Brookfield Asset Management (TSX:BN) revealed plans to acquire Network International for £2.2 billion ($2.76 billion USD) in cash as part of their expansion strategy into the Middle East and African payments sectors.

Lundin Mining (TSX:LUN)'s struggles continued after a Chilean environmental court prolonged its order preventing the reopening of Alcaparrosa copper mine - closed nearly a year ago following a sinkhole incident near a local village.

Canadian Stocks Moving Markets Today

Top Gainers:

Onex Corp (TSX:ONEX).
Ero Copper (TSX:ERO)
Shopify (TSX:SHOP)

Top Losers:

Saputo Inc (TSX:SAP)
Tilray (TSX:TLRY)
Osisko Mining (TSX:OSK)

In Canadian Economics

StatsCan reported that employment remained relatively unchanged during May; however, youth employment (ages 15-24) decreased by 77,000 (-2.8%), while there was an increase of 63,000 (+0.5%) among individuals aged between 25 and 54.

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