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Toronto Stocks Slide; Neighbourly Pharmacy Rises on Revenue Beat in 4Q

By Adriano Marchese

 

Toronto-listed stocks were lower at midday Thursday, while the S&P 500 and Nasdaq Composite were in positive territory. In the session, the Canadian energy sector was the main laggard, offsetting gains primarily in tech services, retail and health tech. Neighbourly Pharmacy Inc. shares rose after the company reported better-than-expected revenue as new stores drove sales.

Canada's S&P/TSX Composite Index was down 0.99% at 18816.59 at midday, while the blue-chip S&P/TSX 60 fell by 0.94% to 1144.57.

Shares in Neighbourly Pharmacy Inc. were up 3.2% at C$23.73 after the company said its sales increased to C$112.3 million from C$83.3 million in the same period last year, beating analyst expectations of C$110.1 million. The company credited the addition of 41 new pharmacies over the prior-year period. Meanwhile, same-store sales growth was 2.3% in the period, up from 0.4%.

 

Other market movers:

Ascot Resources Ltd. shares tumbled 19% to C$0.46 after the company said it would scale back its construction pace in British Columbia while it continues to look for new funds.

 

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

 

(END) Dow Jones Newswires

June 23, 2022 12:18 ET (16:18 GMT)

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