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By Adriano Marchese
Toronto-listed stocks rebounded Friday mid-trading after the U.S. reported the addition of 315,000 jobs to the economy, indicating a strong labor market amid macroeconomic concerns. Midway through the trading day, all Canadian sectors were pushing up the indexes, led primarily by materials, consumer durables and energy. Shares of Maverix Metals Inc. rose after announcing the acquisition of a portfolio of 22 royalties from Barrick Gold Corp. for up to US$60 million.
At midday, Canada’s S&P/TSX Composite Index rose 1.71 to 19469.52 and blue-chip S&P/TSX 60 was 1.69% higher at 1176.91.
Shares of Maverix Metals Inc. rose 7.3% to C$4.55 after it said late Thursday that the portfolio includes royalties on development, advanced exploration and exploration-stage projects mostly located in Canada, the U.S. and Australia.
Other market movers:
ABC Technologies Holdings Inc. reported a nearly 37% increase in revenue, while net loss widened in its fiscal fourth quarter due to higher labor, freight and raw material expenses. Shares were 0.2% lower at C$5.63.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 02, 2022 12:20 ET (16:20 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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