Toronto Stocks Flat; Silvercorp Metals Rises on Share Repurchase Plans
By Adriano Marchese
Stocks in Toronto were near flat mid-trading Friday, with the S&P/TSX Composite Index on track for a 2.5% weekly gain to recuperate last week's decline. Canadian tech stocks were the main laggard in the session, followed by tech services, offset by gains primarily in materials and process industries.
Canada's S&P/TSX Composite Index was flat at 20567.11. The blue-chip S&P/TSX 60 edged 0.06% lower to 1234.21.
Silvercorp Metals shares climbed 4.7% to 3.59 Canadian dollars ($2.66) after the company said it intends to launch a program to repurchase up to 4.8% of its issued and outstanding common shares over the course of one year.
Other market movers:
Essential Energy Services shares were 6.9% higher at C$0.39 after the company said it agreed to be bought by Element Technical Services, a private well fracturing services company, in a deal valued at C$77.7 million.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 15, 2023 12:16 ET (16:16 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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