By Robb M. Stewart


Stocks traded in Toronto declined Wednesday, tracking weakness on Wall Street.

At midday, the benchmark S&P/TSX Composite Index was 0.3% lower, at 21732.61, led by declines in finance and technology stocks that more than offset gains by the minerals sector. The blue-chip S&P/TSX 60 was down 0.3%, at 1297.79.

Energy stocks were under pressure as crude oil prices retreated after the U.S. Energy Information Administration reported an unexpected increase in U.S. stockpiles last week. Canadian Natural Resources retreated 0.8%, Cenovus Energy was 0.3% lower, while Suncor Energy lost 1.3%.

The major banks were all in the red, under pressure after inflation data lengthened the odds of the central bank again cutting interest rates at its coming policy meeting in late July. Royal Bank of Canada and National Bank of Canada were among the biggest decliners, falling 0.6% and 0.9%, respectively.


Other market movers:

The miners helped soften the market's decline, with Barrick Gold up 1.2%, Agnico Eagle ahead 0.5% and First Quantum Minerals gaining 6.6%.

Appili Therapeutics' shares were 13% lower, at 4 Canadian cents (3 U.S. cents), after the biopharmaceutical company included a "going concern" note in its financial statements for the latest fiscal year and said it was dependent in large part on closing a proposed takeover by Aditxt or raising additional financing.


Write to Robb M. Stewart at robb.stewart@wsj.com


(END) Dow Jones Newswires

06-26-24 1231ET