Toronto Stocks Advance; Corus Entertainment Rises on C$147.5 Million Animation Software Unit Sale

By Adriano Marchese

Toronto-listed stocks continued their rally mid-trading on Thursday. The 25 basis-point rate hike by the Bank of Canada on Wednesday remains in focus, with analysts noting that the door could be open to more hikes in the coming months. Most sectors were in the green at midday, with tech services, tech and commercial services leading the charge. Meanwhile, health-tech, consumer durables and consumer services were the only sectors posting losses.

Canada's S&P/TSX Composite Index climbed 0.78% to 20228.23 and the blue-chip S&P/TSX 60 was up by 0.91% to 1214.39.

Shares in Corus Entertainment were up 18% to 1.61 Canadian dollars ($1.22) after the Canadian media and content company said it would sell its animation software business, Toon Boom Animation, to Integrated Media Company for C$147.5 million.

Other market movers:

WELL Health Technologies shares rose 8% to C$4.64 on the digital health company's expectations for higher revenue growth in 2023 after acquiring anesthesia service provider CarePlus Management.

Mandalay Resources lowered its guidance for the year following a second quarter marked by supply-chain issues, personnel vacancies and lower volumes mine, with gold and antimony production dropping from the year-ago period. Shares were down 6.5% to C$1.87.

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

(END) Dow Jones Newswires

July 13, 2023 12:25 ET (16:25 GMT)

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