Toronto Stocks Flat; Celestica Climbs on Upgraded Full-Year Projections

By Adriano Marchese

Stocks in Toronto were hovering around flat in midday trading on Thursday despite broad declines in most Canadian sectors.

Tech stocks were the outsized gainers in the session, followed by process industries a distant second. Materials was the main laggard, with losses in communications and transportation as well.

At midday, Canada's S&P/TSX Composite Index was 0.01% lower, at 20560.41. The blue-chip S&P/TSX 60 was 0.09% higher, at 1234.39.

Celestica's shares jumped 15%, to 25.01 Canadian dollars (US$18.93), after the design, manufacturing and supply-chain services company raised its full-year projections following stronger earnings in the second quarter.

Other market movers:

Global Atomic said its supply lines in Niger have been interrupted after a coup d'etat in the West African country overthrew the elected president. Shares were down 18%, to C$2.21.

New Gold's shares sank Thursday after the gold miner logged second-quarter results analysts said were largely in line with expectations. Shares were down 13%, to C$1.42.

Shares of Precision Drilling were 4.3% higher, at C$81.56, after the company said increased day rates for its rigs helped drive profit and revenue higher than expected in the second quarter.

Avanti Helium shares rose by 13%, to C$0.75, Thursday morning after the company said it signed an agreement to develop a helium recovery plant to process the raw gas from its helium pool in Montana.

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

(END) Dow Jones Newswires

July 27, 2023 12:18 ET (16:18 GMT)

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