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Toronto Stocks Rise; Canadian Tire Shares Down on 3Q Miss

11/11/2021 | 12:19pm EST

By Adriano Marchese

Stocks in Toronto were higher mid-trading Thursday as most sectors pushed up the S&P/TSX Composite Index by 144.61 points. In the session, only commercial services, finance and utilities were the lagging sectors. Shares in Canadian Tire Corp. fell after reporting lower profit and missing analyst expectations in the third quarter.

At midday, Canada's S&P/TSX Composite Index was up 0.70% at 21611.24 and blue-chip S&P/TSX 60 was up 0.62% at 1298.82.

Canadian Tire Corp. shares fell 4.3% to C$178.00 after it reported a fall in third-quarter profit and revenue, though it achieved its run rate savings target early, and said it will increase its target for the next year.

Other market movers:

Shares in CAE Inc. were down 7.2% at C$38.71 after it said it swung to a profit in its second quarter, but missed analyst expectations for earnings and revenue in the period.

CI Financial Corp. rose by 1.9% to C$30.51 after reporting that its profit in the third quarter fell, but total assets reached a record high of C$320.42 billion from C$194.44 billion.

Shares in Brookfield Asset Management Inc. fell 1% to C$74.75 despite reporting that profit rose in the third quarter as revenue and funds from operations increased.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

11-11-21 1219ET

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