By Adriano Marchese

Canadian stocks were moderately higher in midday trading Wednesday, reversing course from earlier lows after the Bank of Canada left its main interest rate unchanged at 5%. The central bank cited steeper borrowing costs which have tempered consumption and brought supply and demand closer an equilibrium.

Canada's S&P/TSX Composite Index was up 0.37% at 19056.24, and the blue-chip S&P/TSX 60 rose 0.41% to 1145.79.

GR Silver Mining shares reversed course and jumped 13% to 5 Canadian cents (4 cents) after the company said it intends to raise C$1.2 million by way of a private placement of units. Earlier in the morning, the stock was down over 12%.

Other market movers:

Canadian National Railway's reported lower profit in the third quarter as the company saw lower revenue from fuel surcharges and weaker volumes. Headwinds in the quarter affected performance, including the West Coast dockworkers strike, wildfires and floods. Shares are up 1.2% at C$146.67.

Write to Adriano Marchese at

(END) Dow Jones Newswires

10-25-23 1223ET