Toronto Stocks Inch Higher; Crescent Point Gains on C$1.7 Billion Oil Asset Acquisition

By Adriano Marchese

Toronto-listed stocks edged upward Tuesday at midday with a mixed performance among Canadian sectors. Consumer durables was the outsized laggard, followed by tech services and health services. On the gainers side, energy and materials were the main leaders of the session.

Canada's S&P/TSX Composite Index were up 0.33% at midday, reaching 19690.41, while the blue-chip S&P/TSX 60 rose 0.34% to 1182.85.

Shares of Crescent Point Energy Corp. were 1% higher at 9.15 Canadian dollars ($6.70) after it announced an agreement to acquire the oil and liquids-rich assets in the Montney region of Alberta from Spartan Delta Corp. for C$1.7 billion and has updated its output forecast as a result.

Other market movers:

Hut 8 Mining Corp. has expanded its lawsuit against Validus Power Corp. to include a claim that Validus unlawfully terminated their lease at Hut 8's mining facility in Ontario. Shares were down 2.9% at C$2.17.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

03-28-23 1218ET