By Ketki Saxena
Investing.com – After rising over 8% in 2023, Canada’s main stock index, the S&P/TSX Composite started the new year on a muted note.
The Canadian index tracked Wall Street lower in the first trading session of 2024, as treasury yields climbed with investors adjusted rate cut expectations, and as Apple shares (NASDAQ:AAPL) fell after a downgrade from Barclays (LON:BARC).
Toronto Stock Market News
Agnico Eagle Mines (TSX:AEM) Ltd announced its acquisition of a minority stake in Canada Nickel Co. Ltd., purchasing 19.6 million units of Canada Nickel in a flow-through offering at a price of $1.18 per unit for a total of $23.1 million.
Great-West Lifeco (TSX:GWO) Inc. announced that it has closed the sale of Putnam Investments to Franklin Resources Inc (NYSE:BEN)., which operates as Franklin Templeton. Under the deal, Great-West Lifeco will retain a 4.9% stake in Franklin Templeton, distribute Franklin Templeton products, and allocate US$25 billion in assets under management to Franklin Templeton's investment managers.
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Toronto Stocks Moving Markets Today
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In Canadian Economics
The S&P Global Manufacturing Purchasing Managers' Index (PMI) showed a sharpc ontractian in Canadian factory activity, with the index falling to an over three-year low of 45.4 in December.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.