By Adriano Marchese


Stocks in Canada were firmly higher at midday Thursday, with all sectors pushing the S&P/TSX Composite Index up by 177.96 points. In the session, consumer durables, producer manufacturing and process industries were the main gainers. The Canadian banks continued their second-quarter earnings, with Toronto-Dominion Bank shares rising after reported higher earnings and revenue than expected in the period.

Canada's S&P/TSX Composite Index was p 0.88% at 20562.66 and the blue-chip S&P/TSX 60 rose by 0.80% to 1243.55.

Toronto-Dominion Bank shares were up 2.5% at C$96.11 after it reported adjusted earnings were C$2.02 a share, down slightly from C$2.04 but ahead of analyst expectations of C$1.94 a share, while total revenue rose to C$11.26 billion from C$10.23 billion, beating analysts' consensus forecast of C$10.27 billion.


Other market movers:

Royal Bank of Canada shares were up 0.2% at C$128.75 after reporting a rise in second-quarter profit, benefiting from a good performance across its segments, though revenue fell. EPS was C$2.96, compared with C$2.76 a year earlier, while analysts had been expecting C$2.67 a share. Total revenue fell to C$11.22 billion from C$11.62 billion.

Canadian Imperial Bank of Commerce fell by 1.5% to C$69.02 after it said that second-quarter earnings fell as profit in its domestic personal-banking segment dropped on year on higher provisions. EPS fell to C$1.62 from C$1.78 in the same quarter a year ago. Revenue rose slightly to C$5.50 billion from C$4.93 billion. Analysts expected revenue to be C$5.30 billion.

Shares in Canadian energy infrastructure company AltaGas Ltd. were 2.1% higher at C$30.07 after the company said it agreed to sell its Alaskan utilities to TriSummit Utilities Inc. for US$800 million.

Nanalysis Scientific Corp. shares leapt 14% to C$1.20 after the company said its subsidiary signed a six-year service and maintenance contract with Canadian Air Transportation Security Authority worth C$160 million, the equivalent of US$124.8 million.


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


(END) Dow Jones Newswires

05-26-22 1222ET