By Robb M. Stewart
Shares on Canada's main exchange rose modestly, tracking gains on Wall Street and a slight lift for the Dow industrials.
Midday Wednesday, the Toronto Stock Exchange's S&P/TSX Composite Index was 0.5% higher, at 31205.20, partially retracing declines from the previous two sessions.
Energy stocks led broad gains, boosted by a rise in oil prices amid geopolitical concerns after high-level talks between the U.S. and Russia failed to yield any significant progress toward ending the war in Ukraine. The technology-services sector led decliners, with a 1.3% drop by market heavyweight Constellation Software.
The blue-chip S&P/TSX 60 was up 0.5%, at 1833.67.
Earnings season continues for Canada's major banks, with results so far beating expectations.
Royal Bank of Canada, the country's largest lender, was up 1.4% after it raised its quarterly dividend following solid fourth-quarter results. National Bank of Canada fell 1% despite also planning to increase its quarterly payout.
Among energy stocks, Athabasca Oil was up 2.5%, Canadian Natural Resources gained 1.8% and Cenovus Energy added 3.3%.
Other market movers:
Enbridge shares ticked up 0.2%, to 67.42 Canadian dollars (US$48.26), after the pipeline operator and gas utility said it would lift its dividend payout as it targets increased earnings in the coming year while new energy projects come on line and it benefits from rates set by regulators.
Tamarack Valley Energy was 6.1% higher, at C$8.24, after the oil and gas producer said it was targeting higher production but a modestly scaled back spending program in the coming year.
Transat A.T. fell 10%, to C$2.51, after pilots at Air Transat voted overwhelmingly in favor of a strike if a new contract can't be negotiated with airline management.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
12-03-25 1309ET
