By Adriano Marchese
Toronto-listed stocks were higher midday Wednesday thanks to a broad-based push from most sectors. Leading the charge was the communications sector, followed by energy and tech services. These largely offset losses primarily from materials, commercial services and tech stocks.
Canada's major banks continued their third-quarter reporting Wednesday, with strong results from Royal Bank of Canada and a new share repurchase program by National Bank of Canada.
Canada's S&P/TSX Composite Index advanced by 0.3% to 28425.51 and the blue-chip S&P/TSX 60 rose 0.4% to 1687.42.
Shares of Royal Bank of Canada jumped 6.1% to 202.02 Canadian dollars (145.96) after the Canadian financial institution reported stronger-than-expected earnings in the third quarter as it reduced credit provisions, adding to what has been a strong earnings season for the country's big banks.
Other market movers:
National Bank of Canada plans to launch a share-buyback program, backed by strong capital levels and after logging a rise in profit in the latest quarter due to its recent acquisition of Canadian Western Bank. Shares fell 3.7% to C$144.82.
Dollarama shares fell 3.2% to C$186.00 after the Canadian dollar-store chain reiterated its full-year guidance on the back of more-cautious consumers, despite beating expectations in the fiscal second quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
08-27-25 1216ET
