By Adriano Marchese


Stocks in Toronto rose on Wednesday at midday. Statistics Canada reported that Canada's merchandise exports fell by 2.2% in June. Coupled with a 0.5% decline in imports, the country's merchandise trade deficit with the world widened to $3.7 billion from $2.7 billion in May. In the session, commercial services, communications and energy stocks were the strongest performers, offsetting losses primarily in tech services and health tech.

Canada's S&P/TSX Composite Index inched 0.24% higher to 20254.73. The blue-chip S&P/TSX 60 rose by 0.38% to 1213.88.

Leading the tech sector decline, Nuvei shares fell by nearly 38% to 24.99 Canadian dollars ($18.62) after the Canadian fintech company cut its revenue targets for the year after terminating a relationship with a large customer, as well as the slow pace of attracting new business.


Other market movers:

ATS shares were 2.3% higher at C$57.28 after reporting better-than-expected profit and revenue in the first quarter of fiscal 2024.

Shares of Quarterhill rose 6.9% to C$1.55 after the company reported better-than-expected revenue growth in the second quarter, and improved adjusted earnings.

Shares of CAE were 6.7% higher at C$31.61 after the flight training company beat expectations for profit and revenue growth in its first fiscal quarter of 2024.


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


(END) Dow Jones Newswires

08-09-23 1220ET