In midday trading, stocks in Toronto have rebounded from earlier lows, showing moderate gains. The Bank of Canada’s upcoming decision regarding the policy rate is eagerly awaited by investors. Analysts predict that the central bank will likely maintain the rate, considering a recent inflation report that was below expectations.
Sectors Moving in a Positive Direction
At midday, most sectors in Toronto are in positive territory. Tech, utilities, and commercial services are leading the way, while process industries, materials, and tech services lag behind.
Market Indices
The S&P/TSX Composite Index in Canada is currently up by 0.26% at 19164.83, while the blue-chip S&P/TSX 60 has risen by 0.30% to reach 1152.71.
Aecon Group Receives Significant Investment
Shares of Aecon Group have seen a notable increase of 5.2% to 10.95 Canadian dollars ($7.98). This follows an announcement by the Canadian construction company, stating that its subsidiary, Aecon Utilities Group, has received a C$150 million investment from funds managed by Oaktree Capital Management’s Power Opportunities strategy. This investment grants Oaktree Capital Management a 27.5% stake in the unit.
Enthusiast Gaming Holdings Delisting from Nasdaq
Enthusiast Gaming Holdings has experienced a decline in shares by over 14% to C$0.36 as a result of its decision to delist from the Nasdaq. The company will continue to be listed on the Toronto Stock Exchange.