Toronto Stocks Down Mid-Trading; CN Shares Rise on Strategic Plan

09/17/2021 | 12:20pm

By Adriano Marchese

Shares in Canada were down at midday Friday, continuing the week's trend, as energy and technology stocks led the declines. Bucking the downward momentum, Canadian National Railway Co. was up after announcing a new strategic plan for the future of the railway that will aim to increase earnings, decrease costs and return more to shareholders.

At midday, the S&P/TSX Composite Index was down 0.67% at 20463.74 while the blue-chip S&P/TSX 60 declined by 0.72% to 1222.95.

Shares in the Canadian National Railway Co. rose by 3.2% to C$151.53 after it said that it aims to improve its earnings and operating ratio as well as increase its shareholder distribution as part of the railroad's strategic plan for the future.

Other market movers:

Royal Bank of Canada shares fell 0.9% to C$128.38 after the U.S. Securities and Exchange Commission said that the bank has agreed to pay $800,000 to resolve a charge that it was engaged in unfair dealing in municipal-bond offerings.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

09-17-21 1219ET

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