By Adriano Marchese
Canadian stocks were solidly higher mid-trading Tuesday, in step with global markets that got a boost after U.S.’ October CPI report came in softer, driving a rally in global equities. Most stocks were trending higher, led by producer manufacturing, health tech and materials, with gains in finance and tech as well. Process industries was the only sector to post declines.
At midday, Canada’s S&P/TSX Composite Index were 1.78% higher at 20060.33. The blue-chip S&P/TSX 60 climbed 1.67% higher to 1209.06.
Teck Resources shares trading in Toronto rose by 2.5% to 51.55 Canadian dollars ($37.33) after the Canadian mining major said it agreed to sell its coal assets to a group led by mining and trading giant Glencore in a deal set to conclude a lengthy pursuit.
Other market movers:
Shawcor shares were 13% lower at C$13.47 after the company reported lower revenue in the third quarter, missing expectations of growth, as it progresses its business transformation.
Converge Technology Solutions shares rose more than 10% to C$3.66 after the company reported better-than-expected revenue as demand drove higher gross sales in the period.
Else Nutrition’s shares retreated by about 9.9% to C$0.64 after the plant-based baby and children nutrition company reported a sharp drop in revenue for the latest quarter following a shift of limited inventory earlier in the year to new retail channels from e-commerce sales.
Write to Adriano Marchese at [email protected]
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