Toronto Stocks Edge Higher; TransAlta Up After Acquisition Completed
By Adriano Marchese
Toronto stocks were up at midday on Thursday after giving back some of their gains from earlier in the session.
The S&P/TSX Composite Index gained 0.20% to 19073.23 and the blue-chip S&P/TSX 60 rose 0.19% to 1145.10.
Sector performance was mixed as utilities, communications and industrial services led the gainers. Process industries, manufacturing and consumer discretionary posted the biggest declines.
Statistics Canada reported a goods-trade surplus for September of 718 million Canadian dollars ($522 million), which beat the consensus forecast of a C$1.41 billion deficit.
Shares of TransAlta advanced 6.9% to C$11.82 after the electrical-power generation company said its acquisition of TransAlta Renewables was completed, a move expected to unify and simplify its structure.
Other market movers:
BlackBerry shares were down 8.6% to C$5.36 after the company said it would pursue an initial public offering for its IoT business, effectively splitting its IoT and Cybersecurity units into two independent companies.
Shares of Orford Mining gained 13% to C$0.09 after the company said it discovered lithium-cesium-tantalum bearing pegmatites in the Nunavik region of Northern Quebec.
Guanajuato Silver said it expects to produce less silver in 2023 than it originally anticipated as it looks to implement operational changes across its four mines. The company's stock declined 7% to C$0.27 following the news.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 05, 2023 12:53 ET (16:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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