Toronto Stocks Advance; Opsens Soars on C$345 Million Buyout Deal
By Adriano Marchese
Stocks in Toronto started the shortened week sharply higher Tuesday at midday after the Canadian Thanksgiving long weekend.
Most sectors were pushing the indexes up, led by energy, tech and materials. Only health tech posted declines in the session.
Canada's S&P/TSX Composite Index was 1.63% higher, at 19559.47, and the blue-chip S&P/TSX 60 was 1.67% higher, at 1173.46.
Shares of Opsens climbed 47%, to 2.84 Canadian dollars (US$2.09), after the company said it agreed to be acquired by Boston-based healthcare company Haemonetics in a deal worth C$345 million. Opsens expects the synergies between its portfolio and Haemonetics' hospital-based products will drive improvements in patient care.
Other market movers:
Shares in Uranium Royalty were 7.7% lower, at C$3.97, after it said it was looking to raise $30 million by way of a bought-deal financing to support the company's growth strategies.
Canopy Growth shares advanced 6.2%, to C$1.03, after it said it received certification from the EU which will allow it to continue exporting medical cannabis to Europe and around the world.
Ballard Power Systems said it has received multiple orders for nearly 180 hydrogen fuel cell engines from European bus manufacturer Solaris Bus & Coach. Shares rose 2.2%, to C$5.00.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 10, 2023 12:21 ET (16:21 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst