Toronto Stocks Advance; Opsens Soars on C$345 Million Buyout Deal
By Adriano Marchese
Stocks in Toronto started the shortened week sharply higher Tuesday at midday after the Canadian Thanksgiving long weekend.
Most sectors were pushing the indexes up, led by energy, tech and materials. Only health tech posted declines in the session.
Canada's S&P/TSX Composite Index was 1.63% higher, at 19559.47, and the blue-chip S&P/TSX 60 was 1.67% higher, at 1173.46.
Shares of Opsens climbed 47%, to 2.84 Canadian dollars (US$2.09), after the company said it agreed to be acquired by Boston-based healthcare company Haemonetics in a deal worth C$345 million. Opsens expects the synergies between its portfolio and Haemonetics' hospital-based products will drive improvements in patient care.
Other market movers:
Shares in Uranium Royalty were 7.7% lower, at C$3.97, after it said it was looking to raise $30 million by way of a bought-deal financing to support the company's growth strategies.
Canopy Growth shares advanced 6.2%, to C$1.03, after it said it received certification from the EU which will allow it to continue exporting medical cannabis to Europe and around the world.
Ballard Power Systems said it has received multiple orders for nearly 180 hydrogen fuel cell engines from European bus manufacturer Solaris Bus & Coach. Shares rose 2.2%, to C$5.00.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 10, 2023 12:21 ET (16:21 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks