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Toronto Stocks Lower Mid-Trading; Corus Entertainment Shares Fall on Lower 4Q Profit

By Adriano Marchese

 

Shares in Toronto were slightly lower midday on Friday as process industry stocks offset gains in electronic technology. Shares in Corus Entertainment Inc. were lower after the company said its fourth-quarter profit were lower than the prior year.

Canada's S&P/TSX Composite Index was down 0.27% at 21157.68 while the blue-chip S&P/TSX 60 slid 0.30% to 1270.46.

At midday, shares in Corus Entertainment Inc. were down 4.1% at 5.58 Canadian dollars (US$4.51) after the company reported a fall in fourth-quarter profit, despite a rise in revenue which was driven by stronger performance in both its television and radio segments.

 

Other market movers:

Rogers Communications Inc. shares were 0.7% lower at C$55.32 after former chairman Edward Rogers said late on Thursday he intended to replace five independent board members of the company. Rogers on Friday said that it hasn't yet received any documentation from its former chairman, Edward Rogers, nor from the Rogers Control Trust regarding any of the plans.

 

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

 

(END) Dow Jones Newswires

October 22, 2021 12:14 ET (16:14 GMT)

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