Toronto Stocks Flat; Algonquin Power Rises on Higher 4Q Profit, Rosy Outlook for 2024
By Adriano Marchese
Stocks in Toronto were virtually flat at midday Friday. Canada released its unemployment figures, which showed a rise in February as another month of relatively solid hiring was again outpaced by the country's immigration-led population boom.
Canada's S&P/TSX Composite Index was down 0.05% at 21782.82 and the blue-chip S&P/TSX 60 was 0.01% higher at 1314.63.
Shares in Algonquin Power & Utilities were 2.9% higher at 8.47 Canadian dollars ($6.29) after it reported a jump in profit, despite lower revenue, and said that it expects 2024 to be a transition year as it looks to reposition the business.
Other market movers:
AltaGas reported higher profit in the fourth quarter, and said that it expects the momentum to continue in 2024. Shares slipped 2.5% to C$28.83.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 08, 2024 12:14 ET (17:14 GMT)
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