Toronto Stocks Climb; Boralex Rises on U.S. Wind Farm Stake Acquisition

By Adriano Marchese

Stocks in Toronto were firmly higher in midday trading on Thursday, with the S&P/TSX Composite Index pushing up 174.19 points. In the session, Canada's tech, health care and consumer discretionary were the main leaders with no sectors posting any declines. Boralex Inc. shares rose after it said that it has acquired interest in five operating wind farms in the U.S. for 339.7 million Canadian dollars ($249.7 million).

Canada's S&P/TSX Composite Index climbed 0.90% to 19456.95 and the blue-chip S&P/TSX 60 rose by 0.81% to 1174.15.

Boralex Inc. shares were up 4% to C$41.47 after it said it bought a 50% interest in five wind farms located in New Mexico and Texas from EDF Renewables North America which are expected to contributed to earnings and cash flow in 2023.

Other market movers:

Bitfarms Ltd. on Thursday named Geoffrey Morphy president and chief executive officer as the two co-founders shift to new roles. Emiliano Grodzki resigned as CEO but will remain as a board director, while Nicolas Bonta, who co-founded Bitfarms in 2017 with Mr. Grodzki, will transition from executive chairman to chairman of the board. Shares are up 3.8% at C$0.55.

Shares in ADENTRA Inc. rose 3.7% at C$28.20 after it announced plans to buy back up to 10% of its common shares over the course of a one-year period.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

12-29-22 1216ET