Toronto Stocks Move Higher; Dollarama Climbs as 4Q Profit, Sales Beat Views
By Adriano Marchese
Stocks in Toronto were higher in mid-day trading on Wednesday as all sectors posted gains with technology, commercial services, and retail leading the advance.
The S&P/TSX Composite Index was up 138.86 points, or about 0.70%, to 19795.87, and the blue-chip S&P/TSX 60 rose 9.67 points, about 0.77%, to 1189.41.
Dollarama Inc. shares were 2.1% higher at 80.15 Canadian dollars (US$58.95) after they reported better-than-expected sales and profit in its fiscal fourth quarter that topped analyst estimates, according to FactSet. That was due in part to new store openings and higher spending from customers.
Other market movers:
Goeasy Ltd., a provider of non-prime leasing and lending services, declined 7.4%, to C$90.50, after the Canadian government's 2023 budget confirmed plans to lower the maximum allowable rate of interest lenders can charge.
Q4 Inc.'s shares were up 9.3%, to C$3.99, after the capital markets communications platform provider got the green light to buy back up to 10% of its stock.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 29, 2023 12:34 ET (16:34 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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