Toronto Stocks Rise; Real Matters Climbs on 2Q Profit, Outlook

By Adriano Marchese

Toronto-listed stocks were moderately higher mid-trading on Tuesday. Most sectors were trending higher in the session, led by tech, producer manufacturing and process industries. Of the few declines, utilities, transportation and consumer durables stocks lost the most.

At midday, Canada's S&P/TSX Composite Index was 0.3% higher at 22330.72 and the blue-chip S&P/TSX 60 rose by 0.3% to 1338.51.

Real Matters's shares rose by 14% to 5.64 Canadian dollars ($4.13) after the management-services platform serving the mortgage and insurance industries swung to a profit in the second quarter. The company added that it was positioned for growth when market conditions improve and business scales back up.

Other market movers:

Pet Valu Holdings profit slipped in the first quarter, despite revenue just slightly ahead of consensus expectations. The decline was largely due to lower operating income and higher net interest expenses. It was also dragged by a loss logged on the derecognition of a call option related to an investment included in the prior-year period.

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

(END) Dow Jones Newswires

May 07, 2024 12:19 ET (16:19 GMT)

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