Toronto Stocks Continue Rise; Enbridge Shares Climb on Potential Debt Offering

By Adriano Marchese

Canadian stocks continued their modest rise on Wednesday midday. Covid continues to dominate the headlines in Canada as cases surge across the country, despite the Omicron variant appearing to be milder than previous strains of the virus. In the session so far, energy and natural resources led the gainers while health tech and technology services sectors dragged. Enbridge Inc. shares rose after the company said it was considering offering debt in a private placement to redeem certain preference shares.

Mid-trading, Canada's S&P/TSX Composite Index was up 0.29% at 21297.11. The blue-chip S&P/TSX 60 rose 0.30% to 1291.28.

Shares in Enbridge Inc. rose by 1.7% to C$50.38 after the company said on Tuesday after the markets closed that it was considering offering hybrid subordinated debt securities in Canada on a private placement basis. However, the company didn't release any details on the possible offering.

Other market movers:

TerrAscend Corp. said it named Ziad Ghanem as president and chief operating officer, effective immediately. Shares fell 2.5% to C$7.31.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

01-05-22 1214ET