By Adriano Marchese
Toronto-listed stocks were hovering around their starting point in midday trading Thursday after closing slightly lower Wednesday.
On Wednesday, the Bank of Canada hiked interest rates by 0.25% and said it would conditionally pause hikes to see their effects on the economy. In the session, materials, consumer discretionary and transportation were the main decliners, offset by gains primarily in health tech, health services and producer manufacturing.
At midday Thursday, Canada's S&P/TSX Composite Index inched 0.04% higher to 20607.09 and the blue-chip S&P/TSX 60 was at 1240.94, up 0.05%.
Shares of forest products company Canfor Corp. were 7.7% higher Thursday at 25.02 Canadian dollars ($18.68) after it said it will permanently close its Chetwynd sawmill and pellet plant in the province and temporarily shut down its Houston sawmill for the purpose of redeveloping the site.
Other market movers:
E Automotive Inc. shares were 6.2% higher at C$5.00 after the company said it would acquire U.S-based Houston Auto Auction Inc. for $5.5 million and drop all other acquisition pursuits.
Luminex Resources Corp. shares were down 9.1% to C$0.30 after it announced plans to raise C$12.5 million by way of private placements.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-26-23 1226ET
