By Adriano Marchese
Toronto stocks were firmly lower in midday trading Friday, with sectors dragging the indexes down. Consumer durable stocks were the biggest decliners, followed by tech and health tech stocks.
On the labor front, Canadian households and business will face delays sending mail and packages heading into the holiday season after national postal service workers walked off the job following failed negotiation attempts.
In macroeconomic developments, Canada factory shipments fell 0.5% in September, while Canadian wholesale trade recovered, rising 0.8% from the previous month, boosted by an increase in automotive industry sales.
Canada's S&P/TSX Composite Index declined 0.6% to 2405.40 and the blue-chip S&P/TSX 60 fell 0.7% to 1496.26.
MDA Space raised its full-year guidance after reporting better-than-expected revenue in the third quarter due to strong customer demand and market activity. Shares, however, pulled back in the session by 5.7% to 24.38 Canadian dollars ($17.34) after starting as high as C$27.50 earlier in the session. The stock has more than doubled in the year.
Other market movers:
Canadian Tire said Friday that it will sell its industrial property that serves the Greater Toronto Area for C$258 million. Shares were 0.1% higher at C$151.76.
Shares of Numinus Wellness fell sharply Friday after the company said it has agreed to sell its U.S.-based clinics and pivot to a software-as-a-service company.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
11-15-24 1225ET
