In midday trading on Thursday, stocks in Toronto showed little change after recovering from an initial decline. Leading the gainers were producer manufacturing and transportation stocks, while sectors such as finance and energy were in the red.
Key Indexes Show Modest Gains
The S&P/TSX Composite Index was up 5.5 points at 19456.23, while the blue-chip S&P/TSX 60 was ahead by just 0.5 point at 1170.16.
Mixed Performance Among Major Banks
Among the major banks, Royal Bank of Canada saw a 0.5% increase in its stock price, and National Bank of Canada experienced a 1.4% rise. However, Bank of Nova Scotia and Canadian Imperial Bank of Commerce both saw a slight decline of 0.1%.
Mullen Group Surges on Better-than-expected Earnings
Mullen Group saw a significant increase of 4% to C$13.93 following the announcement of their third-quarter adjusted earnings that surpassed expectations.
Canada Goose Faces Analyst Downgrades
Meanwhile, Canada Goose saw a decline of 5.2% to C$16.54 as some analysts downgraded their recommendations on the company's shares. One of the reasons cited by TD Cowen for the downgrade was pressure on consumers.
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