By Adriano Marchese


Toronto stocks were sharply lower mid-trading on Tuesday after Statistics Canada reported that inflation rose 3.3% in July from a year earlier, more than the 3% the market was predicting.

Sector performance was largely trending lower, with tech, process industries and health tech the main laggards. Only consumer durables and health services posted gains in the session.

At midday, Canada's S&P/TSX Composite Index was down 1.41%, at 20003.73, and the blue-chip S&P/TSX 60 retreated by 1.47%, to 1198.05.

Buhler Industries shares were nearly 18% higher, at 2.69 Canadian dollars (US$2.00), after the company reported second-quarter revenue of C$67.6 million, up from C$57.8 million, which supported a sharp jump in net income to C$16.1 million from C$1.1 million.


Other market movers:

Klimat X Developments shares were 7.4% lower, at C$0.13 a share, after the company said it plans to raise C$1 million through the sale of units at C$0.15 apiece. Each unit will be made up of one common share and one warrant exercisable at a price of C$0.25 for up to two years after the private placement.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-15-23 1217ET