Toronto Stocks Rebound Midday

By Adriano Marchese

Toronto stocks saw a solid rebound at midday on Thursday, reversing the previous day's dip below year-start levels.

Sectors Drive Indexes Higher

Most sectors contributed to the positive performance of the indexes, with consumer durables, tech, and commercial services leading the way. The only sector trending lower was utilities.

• Canada's S&P/TSX Composite Index rose by 0.72% to 19,575.19.
• The blue-chip S&P/TSX 60 climbed 0.78% to 1,175.29.

Investors Look to GDP Report

As investors eagerly await Canada's GDP report on Friday, the focus remains on the economy. Deloitte Canada has lowered its growth forecasts for 2023/2024 but expects the economy to regain footing next year.

Aurora Cannabis Shares Dip

Shares of Aurora Cannabis experienced a significant drop of more than 13% to 79 Canadian cents (59 U.S. cents) following the company's announcement that it raised C$33.8 million to repay its convertible senior notes.

Other Market Moves

Here are some other notable market moves:

• Dye & Durham shares fell by 3.1% to C$12.82 after announcing plans to repurchase up to 10% of its common shares over the next year.
• SNC-Lavalin Group, soon to be known as AtkinsRealis, secured a $21 million contract for a state road extension near Orlando, Florida. Shares rose by 0.8% to C$44.94.