By Adriano Marchese


Stocks in Toronto were marginally lower in midday trading Thursday. Most sectors were lower, with materials posting the largest declines, offset by gains in transportation, health services and industrial services. Tamarack Valley Energy Ltd. shares rose on news of its acquisition of Rolling Hills Energy Ltd. for 93 million Canadian dollars (US$74.4 million) and plans to increase shareholder returns.


At midday, Canada's S&P/TSX Composite Index was down 0.25% at 21943.51 and the blue-chip S&P/TSX 60 was down 0.02% at 1328.60.

Tamarack Valley Energy shares rose 5.1% to C$5.39 after it said it will buy Rolling Hills Energy in a cash and stock deal as part of its strategy to consolidate and expand its holdings in the region. It also announced an increase to its base dividend to C$0.01 a share a month.


Other market movers:

AcuityAds Holdings Inc. shares were 7.2% higher at C$4.46 after it said it intends to make a normal course issuer bid to purchase up to 10% of its public float.

Trevali Mining Corp. stock fell 6.8% to C$1.23 after it said that eight workers remained unaccounted for after flash floods struck its mine in Burkina Faso and that operations have been suspended.

Metro Inc. reported growth in second-quarter profit and sales, largely in line with analyst expectations, despite operating amid challenging headwinds. Its shares were down 2.5% at C$70.33.


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


(END) Dow Jones Newswires

04-21-22 1217ET