By Adriano Marchese


Stocks in Toronto were slightly lower in midday trading Friday after falling 1.3% Thursday, and on track to close more than 2.5% lower this week. Canada's central bank is in focus after the Deputy Governor hinted at potential future rate hikes. In the session, most sectors were lower, with tech services, process industries and consumer discretionary the main laggards. Material, energy minerals, consumer services and to a lesser extent, communications were the only gainers of the day. Spectra7 Microsystems Inc. shares fell Friday morning after the company said it plans to raise 5.9 million Canadian dollars, the equivalent of US$4.3 million, in a private placement.

Canada's S&P/TSX Composite Index was down 0.26% to 20033.93. The blue-chip S&P/TSX 60 slipped 0.27% to 1205.02.

Spectra7 Microsystems Inc. shares were down to 97 Canadian cents (70 U.S. cents), a nearly 18% decline, after it said it would place almost 5.9 million units at C$1 a unit for sale to certain institutional investors and insiders of the company and use the new funds for working capital and general corporate purposes.


Other market movers:

Hut 8 Mining Corp. shares were up 1.7% at C$1.78 after it said that Canada's competition watchdog won't challenge the company's merger with U.S.-based U.S. Data Mining Group Inc.

Bank of Montreal has agreed to acquire AIR MILES Reward Program business from a subsidiary of Loyalty Ventures Inc. for an undisclosed sum. Shares are down 1.8% at C$123.13.


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


(END) Dow Jones Newswires

03-10-23 1218ET