Consumer Durables News

Toronto Stocks Edge Higher; Atlas Engineered Products Climbs as Profit, Margin Improve in 3Q


By Adriano Marchese

Toronto-listed stocks were slightly higher Thursday mid-trading while U.S. markets were closed for Thanksgiving. Most sectors in Canada were higher, led by consumer durables and tech services, while tech was the main laggard of the session. Shares in Atlas Engineered Products Ltd. were higher after the truss-and-wood-products supplier reported higher earnings and improved gross margins in the third quarter.

At midday, Canada’s S&P/TSX Composite Index was 0.43% higher at 20369.07 and the blue-chip S&P/TSX 60 inched 0.44% to 1236.18.

Atlas Engineered Products shares were 8.8% higher at 62 Canadian cents (46 U.S. cents) after reporting a rise in earnings to C$0.05 a share, compared with C$0.04 a year earlier while gross margins improved to 35% from 31%. The company credits raising prices across its network of locations for offsetting fluctuating costs of raw materials and the cost of labor.

Other market movers:

Vizsla Silver Corp. said it will purchase a precious-metals project in northwestern Mexico from Prismo Metals Inc. as well as make an investment in the company for a total of C$2 million in cash and stock.

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

(END) Dow Jones Newswires

11-24-22 1215ET



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