Toronto Stocks Climb; Enghouse Shares Slide on Missed Earnings in 2Q

By Adriano Marchese

Toronto-listed stocks were firmly higher in midday trading on Tuesday, but off the high from earlier in the morning. Most sectors were in the green, led by producer manufacturing and energy, offsetting declines in utilities, tech services and to a lesser degree, transportation.

Canada's S&P/TSX Composite Index climbed 0.52% to 20025.03 while the blue-chip S&P/TSX 60 also rose 0.52%, reaching 1204.47.

Enghouse Systems' shares fell 5.6% to 35.11 Canadian dollars ($26.26) after the Canadian software company logged weaker-than-expected earnings for the latest quarter. Higher operating costs and charges related to acquisitions dragged on earnings, bringing net income down to C$12.5 million, or C$0.23 a share, from C$17.9 million, or C$0.32, a year earlier.

Other market movers:

Eupraxia Pharmaceuticals' shares rose by nearly 7% to C$7.67 after the U.S. Food and Drug Administration granted fast-track designation for the investigation of its lead product candidate, EP-104IAR, in the treatment of adults with osteoarthritis of the knee.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

06-13-23 1223ET