Toronto Stocks Retreat; Maple Leaf Foods Up on 4Q Profit, Revenue Growth

By Adriano Marchese

Toronto stocks were sharply lower Thursday mid-trading, continuing the broadly negative trend of the week as the conflict in the Middle East intensifies. Most sectors were in decline at midday, with the materials and tech sectors the biggest laggards, followed by transportation stocks. Of the few gainers, tech services, consumer services and distribution services led.

Canada's S&P/TSX Composite Index fell 1.4% to 33470.11 and the blue-chip S&P/TSX 60 declined 1.2% to 1937.19.

Maple Leaf Foods shares rose by 7.1% to 28.70 Canadian dollars ($21.04) logged higher profit as stronger pricing and higher sales in prepared foods and poultry drove revenue growth.

Other market movers:

Spin Master swung to a loss in the fourth quarter due to a noncash impairment charge while revenue slumped due to lower sales and higher promotional activity over the critical holiday period. Shares fell 0.5% to C$18.49.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

03-05-26 1215ET