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Toronto Stocks Are Higher; SNC-Lavalin Shares Rise on Subsidiary Contract Win

By Adriano Marchese

 

Shares in Toronto were moderately higher mid-trading on Thursday while U.S. markets are closed for Thanksgiving. In the session, losses in non-energy resources and consumer nondurables were outweighed by gains in tech, retail and transportation. Shares in SNC-Lavalin Group Inc. rose after it said its subsidiary secured an $8.4 million contract with a Romanian firm.

 

Canada's S&P/TSX Composite Index was up 0.39% to 21632.07. The blue-chip S&P/TSX 60 was 0.44% higher at 1308.05.

 

SNC-Lavalin Group Inc. shares rose 1.2% to C$33.33 after it said its subsidiary Candu Energy Inc. won a contract to provide engineering services during the preparatory stage of a precursor project to complete CANDU reactor units 3 and 4 in Romania.

 

Other market movers:

 

Shares in Calfrac Well Services Ltd. were up 7.1% to C$5.90 after it said it has increased its credit line to 250 million Canadian dollars, roughly US$197.3 million, and raised its capital budget as it looks to expand its North American operations.

 

Green Impact Partners Inc. shares slid 1.2% to C$4.94 on news that it expects lower short-term earnings as it prioritizes development of its renewable natural gas projects over the course of 2021 and 2022.

 

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

 

(END) Dow Jones Newswires

November 25, 2021 12:16 ET (17:16 GMT)

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