By Adriano Marchese
Toronto stocks were sharply lower, and most sectors in Canada dragged indexes down.
Materials stocks were the main laggard of the Thursday session, followed by commercial services and tech services. Of the few gainers, consumer discretionary, utilities and retail stocks were the leaders, though with minor advances.
Canada's S&P/TSX Composite Index fell 2.1% to 32548.50, and the blue-chip S&P/TSX 60 declined by 1.7% to 1889.41.
Restaurant Brands International shares fell 5.8% to 90.61 Canadian dollars ($66.74) after it said it is slowing the pace of its Burger King remodeling program as higher construction and materials costs force the company to push out its timeline for modernizing its locations.
Other market movers:
Mullen Group's stock fell 9.6% to C$15.99 after it said profit fell. The challenging economy in the fourth quarter continued to weigh on profit, while recent acquisitions propped up revenue growth.
Saputo shares rose 2.4% to C$43.05 after it said it has agreed to sell an 80% stake in its Dairy Division Argentina to Grupo Gloria for C$543 million.
Bombardier expects more jet deliveries to push revenue past $10 ?billion in 2026, extending its post-turnaround momentum after a strong fourth quarter. Shares fell 2.2% to C$244.13.
Telus's profit and revenue fell in the fourth quarter as modest growth in service revenue was outweighed by weaker mobile-equipment sales and other income. Additionally, Chief Executive Darren Entwistle will hand over the reins of the company, making way for former bank boss Victor Dodig. Shares fell 0.7% to C$19.20.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
02-12-26 1242ET
