Toronto Stocks Edge Lower; Stelco Rises on Agreement with Primobius

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by Adriano Marches

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Toronto stocks fell on Friday afternoon with most areas in the red for the last session of the week and 2021, while tech and health technologies posted gains. Shares of Stelco Holdings Inc. rose after it announced an agreement with Primobius GmbH to commercialize electric-vehicle battery recycling and processing technologies in North America.

Canada’s S&P/TSX Composite index was down 0.43% at 21204.19 mid-trading while the blue-chip S&P/TSX 60 was down 0.44% at 1286.73.

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Stelco Holdings Inc. Shares rose 4.4% in the U.S. to C$40.65 after it said it would source scrap steel feedstocks through a proposed integrated 20,000-net-ton-per-year to secure life’s electric vehicles and lithium-ion batteries. plans to recycle. Operations at Lake Erie Works on the northern shore of Lake Erie.

Other market movers:

Shares of Nextpoint Financial Inc. rose 7.7% to C$5.49 after it said it had acquired Community Tax LLC, a Chicago-based tax-related services company, for $90 million.

Shares of Enbridge Inc. fell 0.5% to C$49.01 after announcing that it would buy C$1.5 billion worth of shares to be canceled next year.

Write to Adriano Marchese at [email protected]

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