By Robb M. Stewart


Shares on Canada's main exchange began the week on firm footing amid the looming prospect of an early federal election.

In midday trading, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.3% higher at 25148.57, with transportation, energy and manufacturing sectors leading gainers.

The blue-chip S&P/TSX 60 was 0.3% stronger at 1506.75.

Prime Minister Justin Trudeau said he will resign after more than nine years in power, bowing to pressure from members of his Liberal party who have been calling on him to step aside ahead of an election later in the year. Trudeau, who has trailed in the polls, plans to stay on as prime minister until a new leader is selected, and he moved to suspend the current session of parliament through March.

EQB was among the biggest drivers of the market, rising 6.3% to 105.31 Canadian dollars after the financial services firm last week said it renewed a plan to buy back up to 8.4% of its public float of shares over a one-year period. Consumer lender Goeasy's shares were ahead 3.7% at C$174.24.


Other market movers:

BlackBerry was up 7.9% at C$5.76 after it launched what it described as industry-first automotive software aimed at accelerating the development of digital cockpits.


Write to Robb M. Stewart at robb.stewart@wsj.com


(END) Dow Jones Newswires

01-06-25 1228ET