Toronto Stocks Slightly Up; VersaBank Climbs on Higher 4Q Profit
By Adriano Marchese
Toronto-listed stocks were moderately higher in midday trading after a rocky morning Wednesday. Most Canadian sectors were up, led by health services, consumer services and utilities. Tech was the main of few decliners, followed by health tech.
At midday, Canada's S&P/TSX Composite Index was up 0.19% at 20271.65, and the blue-chip S&P/TSX 60 rose by 0.12% to 1225.48.
VersaBank's shares were 9.6% higher at 11.92 Canadian dollars ($8.77) after the Canadian bank reported a rise in earnings in the fourth quarter, driven by higher net interest income and strong loan growth, as well as a recovery of credit losses.
Other market movers:
Dollarama reported better-than-expected profit in its fiscal third quarter on strong demand by consumers looking for value on everyday products to mitigate the higher cost of living. Shares were down 0.5% at C$98.63.
The shares of Barsele Minerals were down 11% at C$0.17 and Gold Line Resources down 8.3% at C$0.11 after the two companies said they will merge to focus on advancing gold projects in Sweden and Finland.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 13, 2023 12:17 ET (17:17 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