Toronto Stocks Edge Lower; Northwest Healthcare Properties Falls

By Adriano Marchese

Canadian stocks continued their downward trend on Wednesday at midday.

Statistics Canada reported retail sales rose 1.1% in April in the country, topping consensus expectations of 0.4%, while the agency's flash estimate for May suggests a 0.5% increase. Most sectors were pointing lower in the session, led by tech services, consumer discretionary and tech while consumer durables and health tech were the main of few gainers.

Canada's S&P/TSX Composite Index nudged 0.23% lower, to 19708.34, while the blue-chip S&P/TSX 60 fell by 0.20%, to 1186.10.

Shares of Northwest Healthcare Properties Real Estate Investment Trust were nearly 11% lower, at 6.87 Canadian dollars (US$5.19), after it said that it scuttled plans to create a U.K.-based joint venture with an institutional investor.

Other market movers:

Allied Properties Real Estate Investment Trust said it will sell its network-dense, carrier-neutral, urban-data-center portfolio in Toronto for C$1.35 billion. Shares were down 3.1% lower, at C$21.21.

A.G.F. Management shares were 4.5% higher, reaching C$7.69, after reporting a better-than-expected rise in profit in the second quarter coupled with higher revenue.

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

(END) Dow Jones Newswires

June 21, 2023 12:17 ET (16:17 GMT)

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