By Adriano Marchese
Canadian stocks were slightly higher in midday trading on Thursday, continuing to follow U.S. equities trends which are also doing better. In the session, process industries was the biggest laggard followed by commercial services, while the gainers were led by health tech and transportation. Secure Energy Services Inc. said Thursday that it has been approved to launch a share-repurchase program to buy back up to 7.1% of its common shares outstanding over a one-year period. Ballard Power Systems Inc. shares rose after Amogy Inc. agreed to buy fuel-cell engines which would be used in its ammonia-to-power maritime applications.
Canada's S&P/TSX Composite Index were up 0.26% at 20027.33 and the blue-chip S&P/TSX 60 rose by 0.24%, reaching 1212.73.
Secure Energy Services Inc. shares were 3.8% higher at C$7.31 after it said it will buy back up to 22.1 million shares in the company over the course of the year-long period, which at Wednesday's closing price of 7.04 Canadian dollars (US$5.16) would be worth about C$155.3 million.
Other market movers:
Ballard Power Systems Inc. shares were up 0.8% at C$7.51 after it said will deliver an initial order of three 200-kilowatt FCwave engines and support their integration into Amogy's proprietary ammonia reforming system. A follow-on order for an additional seven engines is expected to be placed after the successful completion of the initial projects.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
12-08-22 1217ET
