Toronto Stocks Edge Lower; Parkland Shares Up After Rebuffing Call for Strategic Review
By Adriano Marchese
Toronto-listed stocks started the week slightly lower midday Monday. On the macroeconomic side, manufacturing shipments in Canada rose 0.7% in February from the previous month to a seasonally adjusted 71.61 billion Canadian dollars ($51.98 billion), while wholesale trade was flat.
Sector performance was mixed in Canada, with gains mainly in distribution services, health services and commercial services offset by losses primarily in materials, energy and tech services.
Canada's S&P/TSX Composite Index at midday were trading 0.2% lower at 21867.81, and the blue-chip S&P/TSX 60 was down 0.1% at 1310.16.
Parkland's shares rose 4.9% to C$42.94 after the Canadian fuel retailer rejected a call from its largest shareholder to launch a strategic review of options, including a change in ownership.
Other market movers:
Canopy Growth shares fell by 5.6% to C$10.10 after it said it received shareholder approval to create and issue a new class of exchangeable shares as it looks to accelerate growth in the U.S. market.
Shares in Onex were 1.3% higher at C$97.91 after it said it plans to launch a share-repurchase program to buy back up to 10% of its issued and outstanding public shares over a one-year period.
Numinus Wellness shares fell 25% to C$0.08 after the mental health care company said it will consider divesting its Canadian clinical operations to focus on its U.S. business following a strategic review.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 15, 2024 12:18 ET (16:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks