© Reuters.
The Canadian stock market experienced slight fluctuations in midday trading on Friday, following an early peak. The S&P/TSX Composite Index and the S&P/TSX 60 saw minor increases, reflecting a mixed performance across various sectors.
In the tech, process industries, and commercial services sectors, there was a noticeable dip. Conversely, the materials, energy, and communications sectors registered gains.
The Canadian Real Estate Association reported a 1.9% drop in existing home sales for September. This decline was less pronounced than the one observed in the previous month.
One of the standout performers of the day was Lundin Gold (OTC:) (TSX:LUG). The company’s shares rose by a significant 9.4% after it reported better-than-expected Q3 gold production figures. Lundin Gold produced 112,212 ounces of gold in Q3, suggesting that it is on track to meet its production guidance for 2023.
In other industry news, Barrick Gold (NYSE:) (TSX:ABX) secured a special mining lease in Papua New Guinea. This development could potentially lead to new opportunities for the mining giant.
Meanwhile, Genifi (TSX:GEN), a digital solutions provider, saw its shares climb to C$0.03 after it successfully licensed its digital identity platform. This move could potentially expand Genifi’s reach and influence in the digital solutions market.
Overall, Friday’s trading session in Toronto reflected a somewhat volatile market environment with some companies managing to outperform amidst the fluctuations.
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