By Adriano Marchese
Stocks in Toronto edged forward in midday trading on Wednesday. Most sectors were trending upward, led by health tech, consumer discretionary and manufacturing stocks. Retail trade was the main laggard, followed by communications and energy.
The Bank of Canada left its target for the overnight rate unchanged at 2.25%. The central bank said it plans to stick with its outlook for moderate growth even though recent economic data point to signs of upward momentum.
Canada's international investment position, the difference between external assets and external liabilities, increased by 95.3 billion Canadian dollars ($68.82 billion) in the third quarter to C$1.926 trillion, according to Statistics Canada.
Canada's S&P/TSX Composite Index rose 0.2% to 31314.63 and the blue-chip S&P/TSX 60 was 0.2% higher at 1836.71.
North West shares fell 4.5% to C$47.35 after the Canadian grocer, which serves northern and remote communities, reported its Canadian operations weighed on sales in the third quarter.
Other market movers:
VersaBank shares rose 5.1% to C$18.14 after it logged higher revenue in the latest quarter. The increase came on the back of continued growth in credit assets, though the digital bank's earnings were dented by costs associated with its planned move to become a U.S.-based lender.
Capital Power plans to boost U.S. capacity by half by 2030, deliver double-digit shareholder returns and expand its natural gas portfolio through a $3 billion partnership with Apollo Global Management. Shares fell 2.9% to C$63.65.
Roots' stock fell by 1.5% to C$3.34 a share after it reported third-quarter profit that slipped due to stock-based payments despite a rise in sales.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
12-10-25 1218ET
