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Toronto Stocks Retreat; Imperial Oil Shares Rise on 4Q Output Beat, Dividend Hike

By Adriano Marchese


Toronto-listed stocks were mildly lower on Friday at midday, on track to see little change in the S&P/TSX Composite Index for the week. Most sectors were in red territory in the session, led by outsized losses in materials, process industries and communications while on the gainer's side, commercial services, distribution services and tech services led.

At midday, Canada's S&P/TSX Composite Index was down 0.39% to 21036.35 while the blue-chip S&P/TSX 60 fell by 0.32%$ to 1268.52.

Imperial Oil's shares advanced by 3.1% to 78.96 after the Canadian energy company's fourth-quarter production topped expectations and it increased by 20% the quarterly dividend.


Other market movers:

Shares of Uranium Royalty were 7.1% lower at C$4.42 after the company said it plans to raise $22.9 million by way of a bought deal financing agreement.

OceanaGold's Philippine wholly owned subsidiary, OceanaGold Philippines, plans a public offering and listing on the Philippine Stock Exchange. Shares were down 2.8% to C$2.76.

Shares of NiCAN rose by more than 36% to C$0.15 after the company said it plans to raise C$1.5 million by way of a bought deal financing agreement to use toward exploration expenses at its mineral projects in Manitoba.


Write to Adriano Marchese at


(END) Dow Jones Newswires

February 02, 2024 12:19 ET (17:19 GMT)

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