Toronto stocks experienced a midday rally on Thursday, with the S&P/TSX Composite Index recording a gain of 0.20% and reaching 19,073.23. The blue-chip S&P/TSX 60 also rose by 0.19% to reach 1,145.10.
Mixed Sector Performance
Various sectors displayed mixed performance, with utilities, communications, and industrial services leading the gainers. Conversely, process industries, manufacturing, and consumer discretionary sectors posted notable declines.
Positive Trade Surplus Reported
Statistics Canada revealed a goods-trade surplus of CAD 718 million ($522 million) for September. This surpassed the consensus forecast, which had predicted a CAD 1.41 billion deficit.
TransAlta Completes Acquisition
TransAlta shares rose by 6.9% to CAD 11.82 following the completion of its acquisition of TransAlta Renewables. The move is expected to streamline the company's structure and promote unity.
BlackBerry Announces IPO Plans
BlackBerry shares experienced an 8.6% drop to CAD 5.36 when the company announced its intention to pursue an initial public offering for its IoT business. This decision effectively splits BlackBerry's IoT and Cybersecurity units into two independent entities.
Orford Mining Discovers Promising Resources
Shares of Orford Mining saw a notable gain of 13% to CAD 0.09 after announcing the discovery of lithium-cesium-tantalum bearing pegmatites in the Nunavik region of Northern Quebec.
Guanajuato Silver Faces Production Challenges
Guanajuato Silver expects lower silver production in 2023 due to planned operational changes across its four mines. The company's stock declined by 7% to CAD 0.27 upon release of this news.
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