By Adriano Marchese
Toronto-listed stocks were sharply higher mid-trading on Tuesday, bouncing back from a slower morning. Most sectors were trending higher, with tech, materials and consumer discretionary stocks the main gainers. Tech services and finance were down.
Canada's S&P/TSX Composite Index rose 0.9% to 33501.61 and the blue-chip S&P/TSX 60 rose by 0.8% to 1936.65.
Goeasy shares fell over 57% to 49.12 Canadian dollars ($36.15) after the Canadian lending-and-leasing provider warned of charges and a writedown alongside an increase in its credit-loss allowance, while also halting shareholder payouts.
Other market movers:
Fairfax Financial shares rose 1.4% to C$2274.28 after it said it is selling about half of its investment in the holding company that owns containership owner and operator Seaspan for about $1.91 billion.
Air Canada shares fell 1.8% to C$17.46 after Scotiabank analysts downgraded the stock to sector perform from sector outperform on the risk that higher fuel costs could directly affect margins for the airline and potentially affect air travel demand.
Frontera Energy has accepted a $525 million takeover offer from Parex Resources, after the rival bidder topped GeoPark's earlier proposal. Shares fell 1.3% to C$12.67.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
03-10-26 1224ET
