Toronto Stocks Rise; Lightspeed Commerce Climbs on Restructuring, Buyback Plans
By Adriano Marchese
Stocks in Toronto gained at midday Wednesday. Canada reported a deepened contraction in its services industry in March as output and new orders continued to decline in the month while input costs rose at a steeper pace.
Sector performance was mixed, with declines largely in consumer discretionary, utilities and commercial services stocks. Offsetting the declines were gains primarily in health tech, while materials and process industries were more distant gainers.
Canada's S&P/TSX Composite Index was up 0.3% to 22149.69 and the blue-chip S&P/TSX 60 rose 0.3% to 1329.18.
Shares in Lightspeed Commerce climbed 5.9% to 19.96 Canadian dollars ($14.71) after the company said it would lay off staff, look to reduce costs and launch a share-repurchase program.
Other market movers:
Trilogy Metals shares were down 5.4% to C$0.70 after the company said that due to its liquidity issues, its ability to continue operating the business is a going concern.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 03, 2024 12:20 ET (16:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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