By Adriano Marchese
Stocks in Toronto were mildly lower mid-trading Thursday. Most sectors were in the negative, with producer manufacturing, process industries and tech the main laggards while only the materials, health services and industrial services sectors were posting gains. Montreal-based Sunshine Biopharma Inc.'s shares were down after the company said it would buy back up to $2 million worth of its common shares.
Canada's S&P/TSX Composite Index was 0.50% lower at 20273.92 and the blue-chip S&P/TSX 60 was down by 0.48% to 1221.59.
The New York-listed shares of Sunshine Biopharma were nearly 12% lower at 94 cents after it said that it would dip into its $40.5 million cash reserves for the repurchase.
Other market movers:
Richelieu Hardware Ltd. on Thursday reported a slightly better-than-expected rise in fourth-quarter profit, but missed revenue expectations despite benefiting from a growing U.S. segment. Shares were up 0.7% at C$37.23.
Toronto-Dominion Bank shares were 1% lower at C$88.12 after it said it expects Charles Schwab Corp.'s quarterly earnings to translate into about C$285 million of reported equity in net income of its investment in the financial-services company for the fiscal first quarter.
Real Luck Group Ltd. shares leaped 23% at C$0.16 after the Canadian betting company said it reported a record-breaking December performance.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-19-23 1219ET
