By Adriano Marchese
Canadian stocks were moderately higher Wednesday at midday. The Bank of Canada made the decision to hold the line with interest rates at 4.5%, citing recent data that inflation and economic activity in the country are expected to slow quickly in the coming months. In the session, tech services, finance and utilities gained the most while consumer durables, tech and health tech were the outsized laggards.
Canada's S&P/TSX Composite Index rose by 0.33% to 20488.95 mid-trading, while the blue-chip S&P/TSX 60 edged 0.38% higher to 1233.46.
MTY Food Group Inc. shares were 4.3% higher at 63.74 Canadian dollars ($47.34) after the company said its acquisitions in the U.S. supported higher income in its first fiscal quarter, supporting a nearly 54% increase in system sales across the board.
Other market movers:
Comprehensive Healthcare Systems Inc. shares jumped 21% to C$0.09 after the company said it won a contract that would generate C$4.3 million annually over five years.
Shares in Organigram Holdings Inc. fell by 13% to C$0.80 after the cannabis producer logged a wider-than-expected loss in its fiscal second quarter and sales came in lower than anticipated.
Brookfield Infrastructure Partners L.P. will acquire intermodal freight equipment leasing and maritime container management services Triton International Ltd. in deal with an enterprise value of $13.3 billion. Brookfield shares edged 0.4% higher to C$46.93 while the news sent Triton shares soaring 32% to $83.22 in New York.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
04-12-23 1220ET
