Toronto Stocks Flat; Laurentian Bank of Canada Declines on Lower 4Q Profit, Revenue

By Adriano Marchese

Toronto stocks were flat at midday on Thursday as investors digest the Bank of Canada's decision to hold interest rates at 5% on Wednesday. Sector performance was mixed, with technology up the most followed by commercial services. Health services was the main laggard.

Canada's S&P/TSX Composite Index edged up 0.03% to 20280.88. The blue-chip S&P/TSX 60 was down 0.06% to 1222.63.

Shares of Laurentian Bank of Canada, which focuses primarily on the Quebec market, fell by 1.6% to 25.98 Canadian dollars ($19.11) after it reported lower profit and revenue in the fourth quarter, in part due to one-off costs and charges.

Other market movers:

ADF Group's shares gained 17% to C$5.25 after the steel products maker reported higher profit and revenue in the third quarter.

Shares of Willow Biosciences climbed 35% to C$0.14 after the Toronto-listed biotechnology company said it will continue to work toward commercialization of its BioOxi platform with its partner after a positive preliminary feasibility program.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

12-07-23 1232ET