Toronto Stocks Edge Lower; Neo Performance Materials Slides on 1Q Loss, Revenue Miss
By Adriano Marchese
Canadian stocks were slightly lower mid-trading on Friday, with the tech services and health tech sectors leading the declines. Most sectors were posting minor gains, but health services saw an outsized upward trend in the session.
Canada's S&P/TSX Composite Index was down 0.16% at 20385.52. The blue-chip S&P/TSX 60 was also trending lower, down 0.20% at 1231.15.
Neo Performance Materials shares were down 7.9% to 7.70 Canadian dollars ($5.71) after the chemicals company reported a loss but analysts expected a profit and lower-than-expected revenue in the first quarter.
Other market movers:
Canada's flagship airline Air Canada swung to a profit that beat analyst expectations in the first quarter as revenue nearly doubled and strong demand for air travel continued to boost performance. Shares rose 0.8% to C$21.17.
Great-West Lifeco has appointed Jon Nielsen to take over the role of chief financial officer in the first quarter of next year. Shares climbed 1% to C$38.29.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 12, 2023 13:00 ET (17:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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