By Adriano Marchese
Canadian stocks were mostly flat at midday Friday after spending most of the morning in the red. Most sectors are higher in the session, largely offset by materials and producer manufacturing sector declines. Shares in Canadian Pacific Railway Ltd. fell after the company said costs and operating expenses rose in the fourth quarter, weighing on profit in the period.
Canada's S&P/TSX Composite Index was up 0.10% at 20564.95. The blue-chip S&P/TSX 60 was up 0.04% at 1251.42.
Canadian Pacific Railway Ltd. shares were down 3.1% at C$90.96 after it reported late Thursday fourth-quarter earnings per share of C$0.74, down from C$1.19 in the year-earlier quarter, while adjusted EPS was C$0.95.
Other market movers:
Shares in Accord Financial Corp. rose 3.4% to C$8.43 after it said it increased its quarterly dividend by 50% to C$0.075 as the company's performance tracked ahead of its pre-pandemic levels.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-28-22 1218ET
