By Adriano Marchese
Stocks in Toronto were mildly lower in midday trading on Tuesday. Canadian-Chinese relations are in the spotlight after the two countries expelled each other's diplomats over foreign interference, raising questions of potential trade retaliation from Beijing. Canadian tech was posting the largest declines, followed by consumer durables and financials. Industrial services and distribution services were posting the strongest gains.
Canada's S&P/TSX Composite Index was down 0.22% at 20540.43. The blue-chip S&P/TSX 60 edged 0.33% lower to 1238.96.
Shares of SNC-Lavalin Group jumped 10% to 35.19 Canadian dollars ($26.32) after the company reported better-than-expected revenue which drove profit growth in the first quarter.
Other market movers:
Shares of Pet Valu Holdings were down 5.4% to C$33.99 after the company reported a larger-than-expected drop in profit in the first quarter, despite higher revenue.
Shares of Cronos Group were 5% lower at C$2.49 after reporting a narrowed loss in the first quarter thanks to higher cost savings, while revenue fell more than analysts anticipated due to weaker U.S. performance.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
05-09-23 1228ET
