By Adriano Marchese


Stocks in Toronto were slightly higher in midday trading Tuesday, rebounding from a sharply lower close on Monday. Investors are awaiting comments on the Canadian economy, housing market and central bank rate path from Governor Tiff Macklem due to speak later in the day.

Most sectors were trending higher in the session, with the biggest gains in process industries, commercial services and health technology. Of the few laggards, tech services saw the largest declines, followed by communications and utilities.

At midday, Canada's S&P/TSX Composite Index was 0.35% higher at 20945.11. The blue-chip S&P/TSX 60 rose by 0.32% to 1263.07.

Precision Drilling shares climbed 9.5% to 87.44 Canadian dollars ($64.58) after reporting an increase in profit in the fourth quarter, while revenue declined less than expected. The company said it expects the higher cash generation to support debt repayments and shareholder returns going forward.


Other market movers:

BriaCell Therapeutics' shares advanced by over 10% to C$5.79 after the biotechnology company began manufacturing its lead candidate for treating prostate cancer, Bria-Pros+.

International Petroleum's shares fell 1% to C$14.22 after the oil and gas company reported a financial performance in the final quarter of last year that fell short of expectations.

Shares of FirstService were 3.7% lower in Toronto at C$218.55 after it reported a decline in profit despite revenue growth that came in slightly ahead of expectations.


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


(END) Dow Jones Newswires

02-06-24 1218ET