Shares of Saputo Inc. SAP, -0.60% dropped 2.76% to C$33.15 Monday, in what proved to be an all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, 0.72% falling 1.64% to 20,154.54. The stock’s fall snapped a two-day winning streak. Saputo Inc. closed C$9.27 below its 52-week high (C$42.42), which the company reached on June 3rd. Trading volume of 719,012 shares eclipsed its 50-day average volume of 423,173.
Synlait, a prominent player in the global dairy industry and majority-owned by China’s Bright Dairy, has revised its milk price forecasts to align with the mid-point of Fonterra’s predictions.
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