Toronto Stocks Inch Lower, Nuvei Shares Jump on 3Q Earnings, Narrowed Outlook

By Adriano Marchese

Canadian stocks were slightly lower Wednesday.

Sector performance was mixed. Gains were primarily in consumer discretionary, tech services and producer manufacturing, offset by losses in energy, materials and communications.

At midday, Canada's S&P/TSX Composite Index was 0.13% lower at 19546.67. The blue-chip S&P/TSX 60 fell by 0.10% to 1176.90.

Nuvei's shares climbed by over 18% to 25.70 Canadian dollars ($18.67) after the Canadian financial technology company met its guidance for the recent quarter and narrowed its revenue target for the full year.

Other market movers:

ATS shares were higher 9.7% higher at C$51.10 after the Canadian automation systems company reported higher profit and a revenue beat in its second quarter of the fiscal year.

Thinkific Labs shares were 15% higher at C$2.60 after the company reported a narrowed loss and revenue growth in its third quarter and said it will launch a share-repurchase program.

Goeasy's earnings and revenue topped expectations for the recent quarter after the consumer lender saw a record volume of applications for credit. Shares were 5.6% higher at C$126.77.

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

(END) Dow Jones Newswires

November 08, 2023 12:32 ET (17:32 GMT)

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