Toronto Stocks Pare Gains, Restaurant Brands Rises on 2Q Revenue and Profit

By Adriano Marchese

Stocks in Toronto started the shorter week in the red after the holiday long weekend, with indexes in step with global markets.

Most Canadian sectors were lower, dragged primarily by the tech, financial and energy sectors. Health care, real estate and consumer discretionary posted gains.

Canada's S&P/TSX Composite Index was down 0.59% at 20117.13. The blue-chip S&P/TSX 60 was 0.57% lower at 1204.28.

Restaurant Brands International shares were 2.5% higher at 100.82 Canadian dollars ($75.40) after the company reported strong sales across its all brands that supported higher profit in the second quarter.

Other market movers:

Pet Valu shares tumbled 9.8% to C$27.36 after reporting a fall in second-quarter profit. Revenue growth missed analyst expectations, as foreign exchange transactions dragged on earnings.

Cronos Group shares fell 4.8% to C$2.36 after the Canadian cannabis company said it intends to sell its fermentation plant in Manitoba and will no longer provide revenue guidance because of turbulent market conditions.

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

(END) Dow Jones Newswires

August 08, 2023 12:32 ET (16:32 GMT)

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