Toronto Stocks Edge Lower, MTY Food Shares Fall as 1Q Profit Decline Misses Views
By Adriano Marchese
Toronto stocks were mildly lower after coming down from modest highs earlier.
The Canadian real estate market was relatively steady in March. Sales of existing homes ticked 0.5% higher, prices slipped modestly and new listings declined ahead of early signs of a possible rebound in April.
At midday Friday, Canada's S&P/TSX Composite Index was down by 0.1% to 22092.58 and the blue-chip S&P/TSX 60 fell by 0.1% to 1322.38.
Shares in MTY Food Group were over 10% lower at 44.92 Canadian dollars ($32.81). The company reported lower profit in its first fiscal quarter, citing poor weather and softer consumer spending. Analysts had expected growth.
Other market movers:
Corus Entertainment shares were down 20% to C$0.64 after the company said second-quarter advertising revenue continued to decline. It expects further pressure in the third quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 12, 2024 12:29 ET (16:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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