Toronto Stocks Up; WELL Health Technology Shares Rise on 4Q Growth Expectations

By Adriano Marchese

Canadian stocks were modestly higher at midday on Thursday. Investors are still digesting Wednesday's Bank of Canada decision to keep rates unchanged at 5%, stressing that it still is too early to consider cuts.

Most sectors were ahead in the session, led by outsized gains in tech and followed distantly by transportation and tech services. Among the decliners were consumer durables, process industries and health tech.

Canada's S&P/TSX Composite Index was 0.24% higher mid-trading at 21076.49 and the blue-chip S&P/TSX 60 was up by 0.20% to 1270.14.

Bucking the health tech trend, WELL Health Technologies' stock rose nearly 11% to 3.99 Canadian dollars a share ($2.95) after it said it expects higher growth in revenue and profit in the fourth quarter as more patients use its services in Canada and the U.S.

Other market movers:

SNC-Lavalin Group shares were 0.4% higher at C$43.73 after it said that, along with its partners, it has been awarded an engineering support services contract by the U.S. Department of Energy's Princeton Plasma Physics Laboratory.

CGI said that it has renewed a contract with National Bank of Canada to deliver technology services. Shares are up 0.9% to 147.51.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 25, 2024 12:21 ET (17:21 GMT)

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