October 12, 2021
Stocks in Toronto kicked off the week with strong gains on Tuesday following the Canadian Thanksgiving long weekend. The market was largely boosted by the energy, tech, and materials sectors, despite health tech experiencing a decline.
The S&P/TSX Composite Index surged 1.63% to reach 19,559.47, while the blue-chip S&P/TSX 60 gained 1.67% to hit 1,173.46.
Opsens to be Acquired by Haemonetics in $345 Million Deal
Opsens saw a significant jump of 47% in its stock price, reaching 2.84 Canadian dollars (US$2.09), after announcing its agreement to be acquired by Boston-based healthcare company Haemonetics. This deal, valued at C$345 million, aims to leverage the synergies between Opsens' portfolio and Haemonetics' hospital-based products to advance patient care.
Other Market Highlights
- Uranium Royalty's shares dipped 7.7% to C$3.97 as the company revealed its plans to raise $30 million through bought-deal financing to support its growth strategies.
- Canopy Growth experienced a 6.2% increase in its shares, reaching C$1.03, after receiving certification from the EU, allowing it to continue exporting medical cannabis globally.
- Ballard Power Systems secured multiple orders for approximately 180 hydrogen fuel cell engines from European bus manufacturer Solaris Bus & Coach, leading to a 2.2% rise in its shares, to C$5.00.
