By Adriano Marchese
Toronto-listed stocks were sharply higher Thursday at midday thanks to broad gains across sectors. Tech was the biggest gainer of the session, rebounding from the sector-wide shock earlier in the week due to China's low-cost AI model, DeepSeek. Materials were also gainers, followed by process industries. Only health tech logged minor losses in the session.
Canada's S&P/TSX Composite Index climbed 1.4% to 25832.83 and the blue-chip S&P/TSX 60 advanced by 1.4% to 1558.07.
In step with the tech gains of the day, Celestica shares rallied, gaining 16% to reach 167.80 Canadian dollars ($116.36) after reporting better-than-expected fourth-quarter results late Wednesday as well as an upgraded outlook for 2025.
Other market movers:
Rogers Communications logged better profit and revenue than expected in the fourth quarter thanks to growth at its wireless service and media businesses. The stock rose 0.7% to C$41.73.
Franco-Nevada's shares advanced by 4.3% to C$197.30 after the gold-focused royalty company boosted its quarterly dividend 5.6%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 30, 2025 12:03 ET (17:03 GMT)
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