Toronto Stocks Up Modestly; WELL Health Rises on 4Q Performance

By Adriano Marchese

Canadian stocks were slightly higher at midday on Thursday as the retail trade, commercial services and utilities sectors led the gainers, pushing the S&P/TSX Composite Index up by 46.55 points. The consumer durables sector saw the largest losses in the session, followed by producer manufacturing and process industries. WELL Health Technologies Corp. shares rose reporting an adjusted profit and soaring revenue in its fourth quarter.

Canada's S&P/TSX Composite Index rose 0.21% to 22122.51 and the blue-chip S&P/TSX 60 was up 0.20 to 1337.47.

WELL Health Technologies Corp. shares rose by 12% to C$5.53 after it said revenue rose to 115.7 million Canadian dollars, the equivalent of US$92.7 million, compared with C$17.2 million a year ago, while adjusted earnings were C$0.03 a share, beating analyst expectations of a loss of C$0.01 a share.

Other market movers:

Topaz Energy Corp. shares rose 3.9% to C$21.14 after it agreed to acquire the outstanding common shares of Keystone Royalty Corp. for 85 million Canadian dollars, the equivalent of US$68.1 million, in company shares.

Shares in Nova Cannabis Inc. fell 4% to C$2.56 after it said it appointed Zach George as chair and Marcie Kiziak as CEO as part of a board reshuffle following the acquisition of Alcanna Inc. by Sundial Growers Inc. and that it would sell its Ontario retail stores.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

03-31-22 1219ET