Toronto Stocks Tumble; Aritzia Climbs Higher on 3Q Sales, Improved Fiscal Year Outlook

By Adriano Marchese

Stocks in Toronto were firmly lower mid-trading on Thursday in step with global markets. In the U.S., inflation climbed 0.3% in December from the prior month and increased 3.4% from a year earlier, at a higher rate than in November.

Most Canadian sectors were lower in the session, led by losses primarily in process industries, tech and utilities. Retail and energy were among the few gainers.

At midday, Canada's S&P/TSX Composite Index was down 0.95% to 20790.26 and the blue-chip S&P/TSX 60 fell by 1.03% to 1255.21.

Shares in Aritzia were nearly 20% higher at 31.72 Canadian dollars ($23.70) after the Canadian retailer reported higher sales in its fiscal third quarter, bucking the trend of a difficult retail environment, and narrowed its sales outlook for the full-year.

Other market movers:

Galaxy Digital Holdings said it has launched a bitcoin-focused exchange-traded fund with ETF-provider Invesco. Shares were 5.8% lower at C$10.32 after coming down from a high of C$12.40 earlier in the morning.

Endeavour Silver shares were 8.1% lower at C$2.38 after the company said it expects virtually unchanged production in 2024 and inflation-driven rising costs.

Solaris Resources' shares were 5.5% higher at C$4.22 after the company said it secure a C$130 million investment to support development of its flagship Warintza project in southeastern Ecuador.

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

(END) Dow Jones Newswires

January 11, 2024 12:15 ET (17:15 GMT)

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