By Adriano Marchese
Stocks in Canada were marginally higher mid-trading on Monday after gaining 3.2% in the prior week. In the session, most sectors were lower, led by consumer durables and consumer services. Losses were offset by gains primarily in process industries and energy minerals. Shares in Cargojet Inc. were higher after reporting a swing-to-a-profit in the third quarter, helped by higher revenue.
At midday, Canada's S&P/TSX Composite Index was 0.15% higher, at 19501.17, and the blue-chip S&P/TSX 60 rose by 0.16%, to 1181.56.
Cargojet Inc. shares were 5.9% higher, at 137.67 Canadian dollars (US$101.19), after it reported net earnings of C$83.4 million, or C$4.77, compared with a loss of C$12.9 million, or C$0.74 a share a year ago. Total revenue in the period rose to C$232.7 million from C$189.5 million, but came short of analyst expectations of C$244.6 million.
Other market movers:
Baselode Energy Corp. shares were 4.5% lower, at C$0.64, after it said it expects to raise C$10 million in a private placement, which it will put toward its exploration initiatives in Saskatchewan.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
10-31-22 1213ET
