By Adriano Marchese
Canadian stocks were slightly higher mid-trading Tuesday as recent data showed that the country's inflation rate cooled to 4.3% in the month of March, down from 5.2%. Most sectors were higher, but health technology was the outsized gainer, followed by materials and consumer discretionary. Utilities and process industries posted the biggest declines. Bellus Health Inc.'s stock was one of the biggest gainers after British pharmaceutical and biotechnology giant GSK PLC said it would buy the company for $2 billion.
At midday, Canada's S&P/TSX Composite Index was 0.19% higher at 20680.18 and the blue-chip S&P/TSX 60 rose by 0.16% to 1246.47.
Bellus Health's Toronto-listed shares were 99% higher at C$19.28 after GSK said it would offer $14.75 a share, more than double Monday's U.S.-listed share price of $7.26.
Other market movers:
Toronto-Dominion Bank said it expects a higher contribution in its second quarter from Charles Schwab Corp.'s first-quarter results. Shares were 1.3% higher at C$83.04.
Spectral Medical Inc. shares were 7.1% higher at C$0.30 after the company reported that its EUPHAS-2 trial in Italy confirmed positive results for Polymyxin-B hemoadsorption therapy, or PMX, its treatment for endotoxemic septic shock and endotoxin activity.
Anaergia Inc. shares tumbled more than 6.7% to C$1.66 after the company said Chief Financial Officer Paula Myson resigned from her role, effective immediately.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
04-18-23 1221ET
