Canadian stocks are falling at midday

The midday update

February 1, 2017

Canadian stocks are falling at midday, as the benchmark index falls for a fifth straight session and as bank BoC Governor Stephen Poloz highlighted the challenges of economic modeling in times of disruptive change in his speech yesterday. The S&P/TSX Composite Index is falling 0.2% at midday. The benchmark index has fallen every day since reaching record levels on January 25th.

In corporate news, Cameco Corp. (CCO) is falling 11.5%, after the company said it is rejecting a termination notice by Tokyo Electric Power Co on a multiyear supply contract. Kinross Gold Corp. (K) is falling 2.2% at midday, after it was announced that Orca Gold Inc. (ORG) had entered into a share purchase agreement to acquire exploration assets in Cote D’Ivoire from Kinross. Amaya Inc. (AYA) is gaining 3.4% at midday. It was announced today that the company had made an additional payment on its outstanding deferred purchase price for its acquisition of Rational Group in Aug. 2014.

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