By Adriano Marchese
Toronto indexes were nearly flat at midday on Wednesday after spending the morning firmly above Tuesday's close. Sector performance in Canada was mixed at midday. Declines in process industries, consumer durables and consumer discretionary offset gains in materials, energy and tech services.
Foreigners pared back their holdings of Canadian securities in February by 8.78 billion Canadian dollars, the equivalent of $6.35 billion, following three months of investment, even as an all-time high investment in bonds by Canadians drove an increase in their investment abroad.
Canada's S&P/TSX Composite Index was 0.1% higher at 21662.92 and the blue-chip S&P/TSX 60 rose by 0.1% to 1296.28.
Shares in rare earths company NioCorp Developments fell by 9.2% to 3.44 Canadian dollars ($2.49) after it said it is dropping its secondary listing in Toronto, where only a small volume of shares are exchanged. The shares will be delisted as of the close of markets May 3.
Other market movers:
Another Parkland investor, Engine Capital, has backed Simpson Oil in calls for the company to consider strategic alternatives, including a possible sale. Parkland shares are 1.6% higher at C$43.50.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
04-17-24 1225ET
