Toronto Stocks Edge Higher; Canaccord Genuity Slides on Regulatory Delays for Management-Led Buyout

By Adriano Marchese

Stocks in Canada were mildly higher in mid-trading on Monday. The Alberta wildfires are the top story of the day, with many oil and gas companies in the province reducing their operations as fires spread close to their sites. Few sectors are declining in the session, with technology and communications the main laggards. Commercial services, transportation and health services are posting the largest gains.

Canada's S&P/TSX Composite Index edged 0.30% higher to 20604.17. The blue-chip S&P/TSX 60 was up 0.31% to 1244.60.

Shares of Canaccord Genuity Group were more than 13% lower at 9.07 Canadian dollars ($6.78) after the financial services firm said it wouldn't receive regulatory approvals for a management-led buyout as quickly as previously thought. A special committee set up by the company agreed that it wouldn't require regulatory approval to begin any process, proposal plan, or intention related to the sale.

Other market movers:

EnCore Energy said Monday that it has acquired nuclear fission-related technology and equipment from Energy Fuels Resources (USA) for $3.1 million. Shares were down 1.3% to C$2.99.

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

(END) Dow Jones Newswires

May 08, 2023 12:15 ET (16:15 GMT)

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