By Adriano Marchese
Toronto stocks were firmly lower in midday trading Thursday, continuing their decline while the S&P 500 and the Nasdaq across the border edged higher in the session.
Most Canadian sectors were in the red, led primarily by energy, producer manufacturing and process industries. On the gainers side, only technology, health tech and retail posted gains.
At midday, Canada's S&P/TSX Composite Index was down 0.7% to 19572.32. The blue-chip S&P/TSX 60 was down 0.6% to 1178.68.
Empire was up 2.8% at C34.75 after the retailer's earnings came in better-than-expected in its fiscal fourth quarter, thanks in large part to the completion of Project Horizon, its three-year growth strategy.
Other market movers:
Algoma Steel's shares tumbled about 7.5% to C$9.30 after the steel producer swung to a loss in the latest quarter. Much of the decline was due to a drop in the selling price of steel, higher costs from replacing internally-produced coke with purchased coke and increased costs for key inputs such as metallurgical coke and coal.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
06-22-23 1245ET
