By Adriano Marchese

Toronto-listed stocks were trending higher Thursday mid-session, continuing the upward trajectory seen after Donald Trump won the presidential elections.

Sector performance was mixed, with communications stocks, such as BCE and Quebecor, leading the decliners. Distribution-services and consumer-durable stocks were also down. These were offset by gains in process-industries, materials and tech-services stocks.

Canada's S&P/TSX Composite Index was 0.5% higher, at 24757.52, and the blue-chip S&P/TSX 60 advanced by 0.4%, to 1481.32.

BCE shares fell 4.5%, to 38.26 Canadian dollars (US$27.45), after the telecom giant said it now expects revenue to decline in the year, citing greater competition for mobile consumers in the telecom space. The company also generated lower revenue in the third quarter, missing expectations.

Other market movers:

Quebecor shares fell 4.4%, to C$32.97, after the company's telecommunication segment weighed on third-quarter performance, dragging revenue below expectations.

Cameco's shares rose by 3.4%, to C$73.90, after the Canadian uranium producer raised its revenue guidance for the year and set out plans to boost shareholder returns.

Shares of Lightspeed Commerce climbed 11%, to C$24.39, after the ecommerce and point-of-sale platform boosted one of its guidance points after better-than-expected second-quarter results.

Dye & Durham shares were down by 9.4%, to C$17.88, after Canada's antitrust watchdog said it would investigate the company for alleged anti-competitive conduct.

Superior Plus shares tumbled nearly 18%, to C$5.55, after the propane distributor drastically cut its dividend and said it would downgrade its outlook following third-quarter misses.

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

(END) Dow Jones Newswires

November 07, 2024 12:14 ET (17:14 GMT)

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