Toronto Stocks Drop With Global Markets; Filo Mining jumps on new copper-gold crossroads in Argentina

By Adriano Marchese

Shares in Toronto fell sharply midway through trading Friday, in line with global markets. Across the board, US inflation for the month of May reached 8.6% according to the latest CPI data, marking a new high in four decades that rocked markets. During the session, all Canadian sectors declined, led by technical services, manufacturing and consumer durables, while materials were the only winners. Shares in Filo Mining Corp. rose after the company said it had crossed a new copper-gold center at its Filo del Sol project in Argentina.

At noon, the Canadian S&P/TSX Composite Index fell 1.77% to 20203.68. The blue-chip S&P/TSX 60 fell 1.77% to 1219.71.

Filo Mining shares rose 6.2% to C$24.81 after it said Thursday it discovered a new porphyry copper gold center believed to be a separate system along the Filo del Sol corridor.

Other market movers:

WELL Health Technologies Corp. said strong omni-channel patient visits helped drive sales in May, paving the way for a strong second quarter. Shares fell 0.9% to C$3.51.

Manulife Financial Corp. It said on Thursday after markets closed that it would issue $1 billion Canadian dollars ($787.4 million) in limited recourse bonds that it would use for investments in subsidiaries and possible future redemptions of existing securities. Shares fell 2.2% to C$22.81.

Write to Adriano Marchese at adriano.march[email protected]

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