Toronto Stocks Advance; National Bank of Canada Climbs on 4Q Profit, Revenue Growth

By Adriano Marchese

Canadian stocks were solidly ahead mid-trading Friday, with Canadian equities ending the month of November 7.2% higher. Canada's big banks wrapped up their fourth-quarter earnings Friday, with Bank of Montreal and National Bank of Canada with mixed results.

Retail trade was the only declining sector in the session, while communications, transportation and process industries led the gainers.

Canada's S&P/TSX Composite Index was up 0.54% higher at 20345.19 while the blue-chip S&P/TSX 60 advanced by 0.48% to 1225.36.

National Bank of Canada shares were 4.2% higher at 93.65 Canadian dollars ($69.06) after the company reported a rise in profit and revenue in its fiscal fourth quarter, driven by good performances among its main segments.

Other market movers:

Bank of Montreal reported lower profit and revenue in its fiscal fourth quarter, weighed down by costs, provision for credit losses, and the inclusion of Bank of the West results in the current period. Shares were up 1.4% to C$112.95.

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

(END) Dow Jones Newswires

December 01, 2023 12:26 ET (17:26 GMT)

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