Toronto Stocks Advance; Canada Goose Shares Tumble on Lowered Full-Year Targets
By Adriano Marchese
Stocks in Toronto were higher Wednesday at midday, moderating from earlier highs in the morning. Most sectors in the session were in the green with the largest gains booked in the utilities, health tech and health services sectors. Consumer discretionary was the main laggard, followed by materials and consumer durables.
Canada's S&P/TSX Composite Index was 0.54% higher at 18974.87 and the blue-chip S&P/TSX 60 rose by 0.56% to 1139.27.
In the consumer discretionary category, shares of Canada Goose Holdings were 9.2% lower at 13.96 Canadian dollars ($10.06) after it said it expects its second half of the fiscal year to come under pressure from global macroeconomic and geopolitical headwinds. The company lowered its revenue expectations and adjusted earnings for the year as a result.
Other market movers:
Thomson Reuters' shares were up 3% at C$171.02 after the Canadian news and information provider announced a fresh $1 billion share-buyback program alongside better-than-expected earnings for the latest quarter.
Bausch + Lomb shares were 3.9% higher at C$23.12 after raising its expectations for full-year revenue and adjusted Ebitda.
Shares in TerraVest Industries were 3.9% higher at C$34.00 after it said it agreed to acquire all assets of the subsidiaries of U.S.-based fuel and chemical storage tank manufacturer Highland Tank Holdings for $78 million.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 01, 2023 12:13 ET (16:13 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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