Toronto Stocks Advance as Banking Sector Sentiment Improves; BriaCell Slides on Spinoff Plans
By Adriano Marchese
Toronto-listed stocks were moderately higher at midday on Thursday, in step with global markets as investor sentiment around the banking sector appears to stabilize. In the session, most sectors were trending higher, led primarily by commercial services, consumer discretionary and technology, while Canada's banks edged forward as well. The main decliners were the health tech and process manufacturing sectors.
Canada's S&P/TSX Composite Index rose by 0.44% to 19924.33. The blue-chip S&P/TSX 60 was 0.36% higher at 1196.33.
BriaCell Therapeutics Corp. shares were 3.7% lower at 9.34 Canadian dollars ($6.89) after disclosing plans to spin off certain of its preclinical assets into an unlisted new company to position those assets to develop into potential treatments for multiple diseases funded by a separate balance sheet.
Other market movers:
Power Metals Corp. has appointed investment veteran Gerry Brockelsby as its new chief executive officer, succeeding the company's founder, Johnathan More, who will transfer to the role of chairman of the board. Shares are up 5.3% at C$0.30.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 30, 2023 12:18 ET (16:18 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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