Toronto Stocks Higher; Bausch + Lomb Shares Rise on FDA Approval of Vision-Correction Surgery Platform
By Adriano Marchese
Toronto stocks were mildly higher mid-trading on Monday, rising from slight lows earlier in the morning. Last week, Canadian equities started the year on a softer note after a big two-month rally to close of 2023.
Most Canadian sectors were pushing the indexes higher, led by gains in tech, utilities and tech services. The energy sector was the biggest laggard of the session, followed by industrial services and process industries.
At midday, Canada's S&P/TSX Composite Index was 0.24% higher at 20986.91 and the blue-chip S&P/TSX 60 rose by 0.25% to 1268.80.
Bausch + Lomb said Monday shares climbed 3.7% to 16.99 Canadian dollars ($12.71) after it said that its laser-assisted vision correction surgery platform to treat nearsightedness, known as Lasik, was approved by the U.S. Food and Drug Administration.
Other market movers:
Morguard shares were 5% higher at C$113.00 after it said it will sell a portfolio of 14 hotels across Canada for C$410 million as it looks to optimize its real estate portfolio.
Farmers Edge's shares jumped by 36% to C$0.34 after majority-owner Fairfax Financial boosted its takeover offer for the digital agriculture company. Shares of Fairfax were up 0.5% to C$1288.16.
Enthusiast Gaming's shares were down over 13% to C$0.26 after it said Chief Executive Nick Brien resigned from his role after less than a year leading the Los Angeles-based gaming-entertainment company.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 08, 2024 12:20 ET (17:20 GMT)
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