By Adriano Marchese
Stocks in Toronto showed moderate gains on Monday at midday, as Canadian earnings season prepares to kick off this week. While stocks in energy, process industries, and commercial services saw an increase, the tech services, transportation, and materials sectors experienced declines.
- Canada’s S&P/TSX Composite Index rose by 0.26% to 20,600.32.
- The blue-chip S&P/TSX 60 was up 0.33% to 1,238.02.
TC Energy stock faced a decrease of 3.2% at 50.56 Canadian dollars ($38.24) following its announcement of selling a stake in the Columbia Gas and Columbia Gulf pipelines. The sale, valued at C$5.2 billion in cash, was made to Global Infrastructure Partners.
Here are other notable developments in the market:
- Flow Beverage’s shares saw a rise of 8.5% to C$0.45 after securing a deal to become the official water sponsor for entertainment company Live Nation Canada. This partnership will make Flow Beverage’s alkaline spring water available at hundreds of concerts throughout the country.
- Aurora Cannabis experienced a 3% drop in shares, falling to C$0.65. The company sold its facility in Medicine Hat, Alberta, to a subsidiary of Bevo Agtech, a company in which it holds a controlling interest.
