By Adriano Marchese
Stocks in Toronto started 2023 on a positive note Tuesday, as Canadian investor sentiment pushed up the S&P/TSX Composite Index a modest 68.63 points by midday.
In the first session of the year, the majority of sectors were trending higher, led by materials, tech and health tech, while energy was the main laggard. Canadian National Railway Co. finalized a labor agreement with rail traffic controllers across Canada.
Canada's S&P/TSX Composite Index rose 0.34% higher to 19449.21 and the blue-chip S&P/TSX 60 increased by 0.41% to 1173.71.
Shares of Canadian National Railway Co. edged 1.2% higher to C$162.84 after a finalized collective agreement was announced which includes a wage increase of 3% in 2023, a 3% adjustment in the following year, and 2.5% in 2025, as well as other benefits for about 160 rail traffic controllers.
Other market movers:
Cryptostar Corp. shares were higher 25% higher, reaching C$0.03 at midday after the company said it has renewed its line of credit with a lender until 2026. The revolving loan has a maximum principal amount of $1.8 million.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-03-23 1218ET
