By Adriano Marchese


Stocks in Toronto were edging above Wednesday's close on Thursday at midday, climbing from mild lows earlier in the morning.

Investors are digesting the effect of higher-for-longer interest rates after the U.S. Federal Reserve paused raises, but said that more rate hikes are on the horizon. On the Canadian front, the Bank of Canada could also follow suit. Most sectors were lower, with the leading laggards found in tech services, process industries and health services. Offsetting the declines were gains in energy, tech and industrial services.

Canada's S&P/TSX Composite Index inched 0.07% higher, at 20028.76, and the blue-chip S&P/TSX 60 was up 0.10%, to 1205.58.

Avalon Advanced Materials shares were 8.3% higher, at 13 Canadian cents (10 U.S. cents), after the Canadian mineral-development company said it was forming a joint venture with SCR-Sibelco to more fully vertically integrate its lithium production.


Other market movers:

Klimat X Developments shares were nearly 14% lower, at C$0.16, after it said that it finalized binding commercial terms with a Fortune 100 company to pre-purchase carbon credits from the Company's Sierra Leone Rewilding Project. Klimat develops validated and verified carbon credits from reforestation of degraded ecosystems.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

06-15-23 1217ET