By Adriano Marchese
Canadian stocks were lower on Thursday mid-trading, with most sectors pushing the S&P/TSX Composite Index down 128.52 points. In the session the transportation, process industries and consumer durables industries were the biggest drags, offsetting gains primarily in the energy and materials sectors. Shares in Roots Corp. climbed higher after the company reported better-than-expected sales and earnings in the fourth quarter.
Canada’s S&P/TSX Composite Index was down 0.59% at 21660.08 and the blue-chip S&P/TSX 60 fell 0.72% to 1312.78.
Roots Corp. shares rose 8.8% to C$3.73 after reporting adjusted earnings were C$0.48 a share. According to FactSet, analysts were expecting C$0.35 a share while sales rose to C$121.3 million from C$99.4 million, beating analyst expectations of C$117.4 million in the period.
Other market movers:
Shares in Dye & Durham Ltd. fell 4.7% to C$23.08 after the company said its chief financial officer, Avjit Kamboj, was stepping down, effective May 15.
Richelieu Hardware Ltd. shares were down 3.5% at C$31.14 after the company said sales rose 29% to C$384.5 million from C$297.6 million, but missed consensus expectations of C$387.9 million.
Write to Adriano Marchese at email@example.com
(END) Dow Jones Newswires
April 07, 2022 12:16 ET (16:16 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.