By Adriano Marchese
Stocks in Toronto were slightly ahead in midday trading on Friday.
Foreigners continued to add Canadian securities to their portfolios in January to the tune of 8.88 billion Canadian dollars (US$6.56 billion) worth. This was boosted by purchases of government debt, even as Canadians reduced exposure to foreign securities after record investment the month before.
At midday of the last day of the week, most sectors were pushing the indexes ahead, led by process industries, materials and health tech, offset by losses primarily in tech services, tech and consumer discretionary stocks.
Canada’s S&P/TSX Composite Index was 0.13% higher, at 21857.76, and the blue-chip S&P/TSX 60 rose by 0.08%, to 1318.06.
Shares of Premium Brands Holdings were 3.7% lower, at C$87.12, after the specialty food manufacturing and distribution company reported lower profit and revenue that missed analyst expectations in the fourth quarter, weighed down by an underperformance in the Canadian market.
Other market movers:
Osisko Development shares were over 14% lower, at C$2.90, after the company said its Trixie deposit at the Tintic project had fewer resources than previously estimated.
Quarterhill’s loss in the latest quarter narrowed as the Canadian transportation-technology company benefited from increased activity and growth in its enforcement and tolling businesses. Shares were up 4.2%, to C$1.97.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 15, 2024 12:18 ET (16:18 GMT)
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Read More: Toronto Stocks Inch Ahead; Premium Brands Down 4Q Misses