By Adriano Marchese
Toronto stocks were lower by mid-session Friday after spending much of the morning in positive territory, as escalating tensions in the Middle East continued to weigh on investor sentiment. The conflict is entering its third week, and the U.S. has moved additional warships and Marines into the Strait of Hormuz, a key shipping chokepoint, while oil prices continue to push higher.
Unemployment in Canada rose in February with the economy shedding 89,000 jobs. Market expectations were for an increase of 10,000 for the month.
Factory shipments fell 3% in January from the month before to a seasonally adjusted 68.67 billion Canadian dollars, the equivalent of about US$50.33 billion, according to Statistics Canada.
Materials stocks were the main decliners of the session, followed by process industries and tech services, offsetting gains primarily in retail, consumer discretionary and consumer services stocks.
Canada's S&P/TSX Composite Index declined 0.6% to 32663.73 and the blue-chip S&P/TSX 60 fell by 0.3% to 1898.12.
Enghouse Systems shares fell 11% to C$15.75 after the company reported a decline in recurring revenue in its first quarter as weaker license sales put pressure on profit. The company cited economic shifts, impact of changing artificial intelligence pressures as well as global events, which continue to remain unpredictable.
Another market mover:
AtkinsRealis Group intends to renew its share-repurchase program to buy back about 10% of its common shares over the course of a one-year period. Shares rose 1% to C$93.13.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
03-13-26 1225ET
