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Toronto Stocks Rise Sharply; Royal Helium Falls on Increased Financing

10/04/2022 | 12:18pm EST

By Adriano Marchese


Toronto stocks continued their strong rally mid-trading Tuesday, with every sector pushing the S&P/TSX Composite Index up 500.88 points. Canada's technology sector was posting the biggest gains by midday, followed by producer manufacturing and tech services. Shares in Royal Helium Ltd. bucked the green trend, with its stock falling after it said it has increased its financing to fund its new asphalt shingle reprocessing facilities by 40%.

Canada's S&P/TSX Composite Index was 2.68% higher at 19387.56 and the blue-chip S&P/TSX 60 climbed 2.61% to 1172.06.

Royal Helium shares dropped more than 13% to C$0.27 after it said it now expects to raise 7 million Canadian dollars ($5.1 million) through the issue of 26.9 million units at a price of C$0.26 per unit. Previously it expected to raise C$5 million.

Other market movers:

Lightspeed Commerce Inc. has appointed former Google executive Ryan Tabone as the company's chief product and technology officer. Shares are up 8.2% at C$26.92.

Shares in Northstar Clean Technologies Inc. rose by 33% to C$0.18 after the company said it has secured C$43.5 million in financing to fund its new asphalt shingle reprocessing facilities.

TC Energy Corp. shares inched 1.1% higher to C$58.47 after it said it will spend C$146 million to build its first solar power project in Canada.


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


(END) Dow Jones Newswires

10-04-22 1217ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.54% 100.44 Delayed Quote.-30.28%
FIRST SOLAR, INC. -0.13% 168.32 Delayed Quote.93.12%
LIGHTSPEED COMMERCE INC. 0.17% 23.22 Delayed Quote.-54.62%
TC ENERGY CORPORATION -1.00% 58.19 Delayed Quote.-0.09%
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