Toronto Stocks Edge Higher; Tilray Brands Shares Fall on $250 Million Share Sale Plans

By Adriano Marchese

Toronto-listed stocks were mildly higher midday trading on Friday, with stocks on track for a modest weekly gain ahead of the Victoria Day long weekend, according to FactSet. Most sectors were pointing down, led by process industries, commercial services and health tech stocks, but these declines were offset by outsized gains primarily in materials, health services stocks, and energy more distantly.

At midday, Canada's S&P/TSX Composite Index were 0.3% higher at 22368.52 and the blue-chip S&P/TSX 60 was 0.3% higher at 1337.25.

Shares of Tilray Brands were down 7.9% in Toronto to 2.67 Canadian dollars ($1.96) as it is prepared to raise up to $250 million through the sale of shares to bolster a war chest for acquisitions and growth when the U.S. rescheduling of cannabis comes into effect.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

05-17-24 1222ET