By Adriano Marchese
Toronto stocks rebounded on Friday, with most industries posting gains while the energy and consumer services sectors lagged the session. The shares of Enghouse Systems Ltd. fell after the company reported higher-than-expected profits but lower revenues during the period.
As of noon, the S & P / TSX Composite Index of Canada was up 0.27% to 20,795.02 and the blue chip S & P / TSX 60 index was up 0.21% to 1,263.37.
The shares of Enghouse Systems Ltd. fell 2.9% to C $ 46.86 after reporting higher earnings per share during the period to C $ 0.54 from C $ 0.52 a year earlier, beating expectations of a down to C $ 0.46, according to analyst consensus forecasts. Meanwhile, revenue rose to C $ 113.1 million ($ 88.5 million), falling short of analysts’ expectations of $ 123.5 million, taken from FactSet. A year earlier, revenues were C $ 120.9 million.
Other market drivers:
Russel Metals Inc. shares rose 1.2% to C $ 33.10 after it said it extended its C $ 450 million ($ 352.2 million) loan for two years until September 2025 and with a better rate.
Sigma Lithium Corp. rose 0.4% to C $ 12.95 after announcing that it would receive an additional investment of approximately C $ 64.2 million from the funds and accounts managed by BlackRock Inc., bringing the size of its previously announced private placement to approximately C $ 136.7 million.
Write to Adriano Marchese at [email protected]