Toronto Stocks Edge Lower; Canopy Growth Rises on Sale of Ontario Facility for C$53 Million

By Adriano Marchese

Canadian stocks inched below Wednesday's close mid-trading Thursday, trending down from modest highs earlier in the morning. Canadian wildfires were back in the headlines after the northern community of Yellowknife in Canada's Northwest Territories was issued a total evacuation order for all citizens as fires approached the city.

In the session, most sectors were lower, led by consumer durables, health services and tech services, offset by gains mainly in energy, process industries and materials.

Canada's S&P/TSX Composite Index was down 0.02% to 19895.21 and the blue-chip S&P/TSX 60 was 0.01% higher at 1192.05.

Canopy Growth shares rose by 7.8% to 55 Canadian cents (41 cents) after it said it reached a deal to sell a facility in Ontario to the Canadian arm of Hershey for roughly C$53 million as the cannabis company seeks to cut costs and bolster its balance sheet.

Other market movers:

Aya Gold & Silver's stock was 3.3% higher, reaching C$7.56 a share after the company said it would expand its exploration plans at its Moroccan properties for 2023.

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

(END) Dow Jones Newswires

August 17, 2023 12:20 ET (16:20 GMT)

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