By Adriano Marchese
Toronto, Canada – Stocks in Toronto saw significant gains on Wednesday, with various sectors performing well. Retail sales in the country showed a slight increase for the second consecutive month in June, largely due to strong performance in the car dealership industry. While some sectors experienced slower growth, such as energy, others like tech and materials saw notable gains.
S&P/TSX Composite Index and S&P/TSX 60 Rise
The S&P/TSX Composite Index rose by 0.92% to reach 19,871.96, indicating a strong market performance. The blue-chip S&P/TSX 60 also saw growth, increasing by 0.88% to reach 1,188.49.
Atlas Engineered Products Expands
Atlas Engineered Products experienced a significant boost in its shares, rising by 9% to reach 1.21 Canadian dollars. This increase came after the company announced its acquisition of Leon Chouinard et Fils, a roof truss and wall panel manufacturer in New Brunswick. The acquisition was valued at C$28.9 million.
Other Prominent Market Movements
- Aurion Resources also experienced growth, with shares rising by 2% to reach C$0.51. The company announced an agreement with Kinross Gold, granting the latter the right to earn up to a 70% interest in one of Aurion Resources’ properties located in Finland.
- Draganfly saw an increase of 2.7% in its shares, reaching C$1.15. The company was awarded a contract to provide drones and drone pilot crews to aid in the detection and mapping of wildfires across Canada.