Toronto Stocks Inch Higher; Logan Energy Rises on Production, Improved Guidance
By Adriano Marchese
Toronto indexes were slightly higher mid-trading on Thursday while U.S. markets were closed for Thanksgiving Day. Statistics Canada reported that advance results for wholesale sales point to a decline of 1.1% for the month of October.
In the session, performance among Canadian sectors was a mixed bag with health tech, health services and tech the main gainers, offset slightly by declines primarily in process industries, retail and utilities.
Canada's S&P/TSX Composite Index was 0.20% higher at 20154.80. The blue-chip S&P/TSX 60 was 0.21% higher at 1215.41.
Logan Energy shares were 4.4% higher at 94 Canadian cents (69 cents) after the company upgraded its guidance for the second half after reporting strong well production and adjusted funds flow in the third quarter.
Other market movers:
Silvercorp Metals agreed to amend the binding deal it has with OreCorp, boosting the cash component of its offer by 27% for the shares in the Australian company it doesn't already own. Shares were down 0.1% at C$3.22, rebounding slightly from an earlier low of C$3.20.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 23, 2023 12:20 ET (17:20 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks