By Adriano Marchese
Shares in Toronto were down mid-trading on Tuesday as health care and materials dragged the S&P/TSX Composite Index down 55.60 points in the session. Shares in Air Canada were higher as the company narrowed its loss in the third quarter and generated net cash in the period.
At midday, Canada's S&P/TSX Composite Index was down 0.26% at 21192.63 and the blue-chip S&P/TSX 60 was also down 0.22% at 1275.08.
Shares in Air Canada rose 4.4% to C$24.03 after it said its loss narrowed in the third quarter as revenue grew amid more passengers and increased cargo loads. Net cash generation was C$153 million, better than management's expectation of a net cash burn of between C$280 million to C$460 million.
Other market movers:
Transat A.T. Inc. shares were up 3.3% at C$4.68 after it announced it signed an offtake agreement with SAF+ Consortium for 90% of its sustainable e-fuel produced in the company's first plant for the next 15 years.
Thomson Reuters Corp. shares were 0.2% higher at C$147.00 despite swinging to a loss in the third quarter, as it reported a rise in revenue and said it expects better revenue growth in its full 2021 year than previously forecast.
Bausch Health Cos. stock was down 6% to C$33.17 after reporting a rise in third-quarter profit but with a slight decline in revenue in the period.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
11-02-21 1221ET
