Toronto Stocks Edge Lower; Parkland Shares Jump on $9.1B Takeover Deal from Sunoco

Dow Jones
06 May
 

By Adriano Marchese

 

Toronto indexes started the week in a slight decline on Monday, mid-trading. Sector performance was mixed in the session, with losses largely in health-tech, energy and process industries outweighing gains in materials, tech-services and health-services stocks.

On the broader economic front, Canada's official international reserves decreased by $1.26 billion last month as negative reserves-management funding operations offset a net gain on investments.

Canada's S&P/TSX Composite Index fell 0.1% to 24999.55 and the blue-chip S&P/TSX 60 declined by 0.2% to 1504.62.

Parkland's shares jumped Monday after the Canadian fuel distributor struck a friendly takeover deal with Sunoco worth about $9.1 billion.

 

Other market movers:

Vizsla Silver shares rose 2.1% to C$2.96 after the company said it restarted all fieldwork activities at its Panuco flagship gold-and-silver project in Western Mexico following a security concern that had paused all work in early April.

Cineplex shares fell after President Trump posted over the weekend that he will authorize a 100% tariff on all movies produced in foreign countries.

Dundee Precious Metals appointed Juanita Montalvo as board chair following the passing of Peter Gillin, who had previously served in the role. Shares rose 2.5% to C$18.12.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

May 05, 2025 12:05 ET (16:05 GMT)

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