Toronto stocks rise; Atomic global shares rise on Niger Junta’s support for Dasa project

By Adriano Marchese

Toronto stocks rose sharply in midday trading Monday, buoyed by the broader performance of Canadian sectors.

Union workers at Canadian National Railway and Canadian Pacific Kansas City could be forced out or walk off the job Thursday if no contract agreements are reached. A full lockout could block the flow of goods including grain, fertilizer and coal across the country.

Consumer durables stocks posted the biggest gains on the session, followed by materials and consumer discretionary. Only technology posted big losses, followed by health services and utilities.

At midday, Canada’s S&P/TSX Composite Index was up 0.5% to 23,174.94, while the blue-chip S&P/TSX 60 was up 0.5% at 1,389.23.

Global Atomic shares rose 12% to C$1.40 ($1.02) after the uranium producer said it had received written support from Niger’s controlling military junta for its Dasa uranium project.

Other market players:

Alimentation Couche-Tard confirmed it had made a non-binding offer to Japanese company Seven & i Holdings, the operator of 7-Eleven convenience stores. The Canadian convenience store operator also agreed to acquire U.S. retailer GetGo Cafe + Markets from supermarket retailer Giant Eagle for an undisclosed amount. Shares fell 0.8% to C$82.86.

Canaccord Genuity Group shares rose 3.1% to C$8.34 after the financial services company said it plans to buy back up to 5% of its common shares within a year.

Write to Adriano Marchese at [email protected]

(END) Dow Jones Newswires

August 19, 2024, 12:18 ET (16:18 GMT)