Toronto Stocks Flat; Nuvei Up on Potential Private Equity Buyout
By Adriano Marchese
Toronto-listed stocks were virtually flat on Monday, mid-trading, as investors await Tuesday's inflation report.
According to FactSet, analysts expect headline inflation to be above 3%.
Sector performance was mixed in the session, with communications, materials and health services the main decliners, offset by gains in tech services, tech and process industries stocks.
At midday, Canada's S&P/TSX Composite Index was 0.01% higher, at 21850.61, and the blue-chip S&P/TSX 60 was down by 0.09%, to 1315.96.
Shares in Nuvei were trading 33% higher, at 39.04 Canadian dollar (US$28.82) after a report over the weekend said the Canadian payments processor, which is backed by actor Ryan Reynolds, was close to a buyout deal by a private equity firm.
Other market movers:
Shares of Global Atomic fell by 28%, to C$2.25, after the military junta in Niger, where the company operates a uranium mine, ended its military cooperation with the U.S.
Shares in ADENTRA rose by 4.5%, to C$35.88, after reporting better-than-expected earnings and revenue in the fourth quarter.
MCF Energy shares were 11% higher, at C$0.30, after the company said it encountered a new gas discovery at its operations in Austria.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 18, 2024 12:24 ET (16:24 GMT)
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