Toronto Stocks Edge Higher; Metro Shares Rise on Renewal of Buyback Plan

By Adriano Marchese

Canadian stocks were slightly higher in trading on Wednesday ahead of the Thanksgiving Day holiday in the U.S. Retail trade, consumer discretionary and transportation stocks led the move to the upside, with energy and process industries down the most.

Canada's S&P/TSX Composite Index was up 0.05% to 20120.57, and the blue-chip S&P/TSX 60 rose by 0.01% to 1212.86.

Shares of Metro rose 3.1% to 71.13 Canadian dollars ($51.87) after the grocery store operator said it plans to renew its share repurchase program to buy back 3.06% of its public float over a one-year period.

Other market movers:

SNC-Lavalin Group shares were up 1.1% to C$43.47 following the news it had secured a $30 million contract to provide general engineering consulting services to the Florida Department of Transportation. The company has rebranded and is in the process of changing its name to AtkinsRealis.

Shares of Cineplex declined 1.3% to C$8.87 after the company said it will sell its amusement solutions division to OpenGate Capital for C$155 million.

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

(END) Dow Jones Newswires

November 22, 2023 14:08 ET (19:08 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.