Canadian Stocks Rise in Midday Trading

Toronto-listed stocks showed moderate gains in midday trading on Wednesday. While some sectors experienced slight declines, most Canadian sectors were up, with health services, consumer services, and utilities leading the way. Technology stocks and health tech stocks were among the few decliners.

At midday, Canada's S&P/TSX Composite Index saw a 0.19% increase, reaching 20,271.65, while the blue-chip S&P/TSX 60 rose by 0.12% to 1,225.48.

VersaBank Reports Strong Q4 Earnings

VersaBank's shares surged by 9.6% to 11.92 Canadian dollars ($8.77) following the release of their fourth-quarter earnings report. The Canadian bank experienced higher net interest income, strong loan growth, and a recovery of credit losses, which contributed to their rise in earnings.

Other Market News

Dollarama, a value retailer, reported better-than-expected profit in its fiscal third quarter. This success can be attributed to a strong demand for everyday products as consumers seek to mitigate the higher cost of living. However, despite the positive earnings, Dollarama's shares experienced a 0.5% decline, currently valued at C$98.63.

Barsele Minerals and Gold Line Resources announced their merger plans. The newly merged company will focus on advancing gold projects in Sweden and Finland. As a result of this announcement, Barsele Minerals saw an 11% decline in their shares, valued at C$0.17, while Gold Line Resources experienced an 8.3% decrease, valued at C$0.11.