By Adriano Marchese


Canadian stocks jumped in step with global markets in Monday midday trading. All sectors were higher, led by process industries, energy and tech. Shares in Precision Drilling Corp. climbed after it said it has agreed to acquire High Arctic Energy Services Inc.'s well-servicing business and associated rentals assets for 38.2 million Canadian dollars (US$29.3 million).

At midday, Canada's S&P/TSX Composite Index was 1.78% higher at 18721.56 and the blue-chip S&P/TSX 60 rose by 1.58 to 1133.80.

Precision Drilling Corp. shares rose by 7% to C$73.83 after said the acquisition provides rental assets, ancillary support equipment, inventories and spares, as well as six additional operating facilities in key basins.


Other market movers:

Shares in Suncor Energy Inc. were 2.5% higher at C$40.32 after the company said it agreed with Elliott Investment Management L.P. to appoint three new independent directors to help find a new chief executive officer and review the company's downstream retail business.

First Mining Gold Corp. shares rose by 9.8% to C$0.23 on news that it offered to acquire privately-owned Beattie Gold Mines Ltd. to consolidate its property in Quebec for a total consideration of 6.2 million Canadian dollars (US$4.8 million).

Tenaz Energy Corp. fell by 2.5% to C$1.95 after it said that a large shareholder of its U.K.-based acquisition target, SDX Energy PLC, intends to vote against the proposed scheme of arrangements, putting the deal in jeopardy.


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


(END) Dow Jones Newswires

07-18-22 1223ET