By Adriano Marchese

Toronto indexes were firmly lower Friday mid-trading, dragged down by most sectors trending lower. Materials, consumer services and health-tech stocks were the main drags of the session, with only consumer service posting any notable gains, followed more distantly by health services and tech stocks.

Canadian manufacturing activity continued to pick up into the end of last year, rising 0.3% in December, thanks to a drive in sales from a weakening Canadian dollar and better petroleum trade.

Canada's S&P/TSX Composite Index fell 0.4% to 25596.3 and blue-chip S&P/TSX 60 declined by 0.5% to 1539.44.

Shares of CAE rose nearly 17% to 38.91 Canadian dollars ($27.41) after the flight-training company made changes to its board, appointing four new directors, including Air Canada's former CEO as chair of the board, while it searches for its next chief executive.

Other market movers:

Shares in Magna International fell by 4.2% to C$53.88 after the auto-parts maker said it expects lower sales over the next two years, below analyst forecasts of growth, as the auto industry faces challenges and uncertainty.

Enbridge shares fell 3% to C$61.74 after the pipeline operator and gas utility reported a slump in earnings for the latest quarter as it was squeezed by accounting changes on derivative instruments.

Shares of TC Energy fell by 3.1% to C$65.11. The company bumped up its quarterly dividend in the latest quarter in anticipation of a further rise in underlying earnings this year and after it spinned off its liquids pipelines business.

Shares of MTY Food Group fell 9.1% to C$45.50 after the company reported a loss in the fourth quarter due to an impairment charge on one of its brand assets as well as large foreign-exchange losses.

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

(END) Dow Jones Newswires

February 14, 2025 12:19 ET (17:19 GMT)

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