Toronto Stocks Climb as Inflation Cools in June; Goodfood Market Rises on Full-Year Earnings Upgrade
2023年7月19日 - 1:33AM
Dow Jones News
By Adriano Marchese
Stocks in Toronto were solidly higher midday Tuesday as investor
sentiment took well to the news that inflation in Canada continued
to recede in June. Canada's consumer price index climbed 2.8% in
the month from a year earlier, less than the 3% growth that was
expected. However, food price inflation remained elevated and
mortgage interest costs were still up by more than a third. Most
sectors in Canada were higher at midday, led by energy, materials
and consumer durables. Health services was the main of few
laggards, followed by tech and communications
Canada's S&P/TSX Composite Index advanced 0.65% to 20357.72
and the blue-chip S&P/TSX 60 was 0.53% higher, reaching
1221.01.
Shares in Goodfood Market were sharply higher, rising 14% to 52
Canadian cents (39 cents) after the Canadian online meal solutions
company upgraded its expectations for the full year after logging
better-than-expected revenue and loss in its fiscal third
quarter.
Other market movers:
Dye & Durham shares climbed 2.4% to C$20.67 after it said
that it surpassed a milestone of reaching C$100 million of annual
recurring revenue as the company seeks to change its revenue
base.
Telesat said its demonstration satellite aboard Rocket Lab's
Electron rocket launched successfully as part of a rideshare
program. Shares in Toronto were 1.9% higher at C$13.25.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 18, 2023 12:18 ET (16:18 GMT)
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