Toronto Stocks Rally, BlackBerry Falls on 3Q Loss, 4Q Revenue Outlook
By Adriano Marchese
Canadian stocks traded higher, rebounding from a late Wednesday selloff.
Retail sales in Canada rose for a second straight month, up 0.7% in October, led again by trade at motor vehicle dealers.
Most sectors were trending higher Thursday, led by producer manufacturing, tech and materials. Only tech services declined.
Canada's S&P/TSX Composite Index was 0.83% higher at 20771.14 and the blue-chip S&P/TSX 60 rose by 0.79% to 1253.04.
BlackBerry shares were down over 13% to 4.76 Canadian dollars ($3.56) after the company reported a wider loss in the third quarter and forecast lower-than-expected revenue for the fourth.
Other market movers:
Crescent Point Energy shares were up 1.6% to C$9.28 after it set higher targets for production in 2024 thanks to output improvements and capital expenditures it has planned for the year. The company also raised its quarterly dividend by 15%.
Shares in Energy Fuels traded 6.6% higher at C$9.91 after it said it will begin uranium production at three new sites in Arizona and prepare others for near-term production in response to strengthening uranium market conditions.
Galiano Gold shares jumped by 23%$ to C$1.07 after it said it agreed to acquire a 45% interest in a mine in Ghana from a subsidiary of Gold Fields, setting a foothold in the African mining space.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 21, 2023 12:26 ET (17:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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