Home News Stocks in Toronto Rise on Higher Resources Prices

Stocks in Toronto Rise on Higher Resources Prices

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By Robb M. Stewart

Stocks in Toronto were higher in midday trading on Friday, driven by mining and energy shares as resources prices climbed and the U.S. dollar weakened.

Positive Performance of Key Indices

The S&P/TSX Composite Index rose by 0.3% to reach 19866.74, while the blue-chip S&P/TSX 60 advanced 0.1% to 1193.94.

Strong Showing by Major Banks

All major banks displayed strength, with Bank of Nova Scotia leading the way with a gain of 1.5%.

Commodities Companies on the Rise

Several commodity companies experienced positive growth:

  • Canadian Natural Resources: Up 1.7% at C$73.46
  • Suncor Energy: Up 1.4% at C$38.53
  • Cenovus Energy: Up 2% at C$22.89

Notable Market Movers

SNC-Lavalin’s shares increased by 1% to C$34.88 following its decision to sell its Scandinavian engineering-services business to France’s Systra Group. The deal has an enterprise value of approximately 80 million pounds ($102 million).

Cronos Group, a cannabis company, experienced a slight decline of 0.8% at C$2.49 after announcing its review of unsolicited indications of interest from potential buyers. Curaleaf, another cannabis company, declined to comment on media reports regarding a possible transaction involving their company.

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