Toronto Stocks Are Higher; SNC-Lavalin Shares Rise on Subsidiary Contract Win

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by Adriano Marches

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Shares in Toronto were marginally higher in mid-trade on Thursday, while US markets close for Thanksgiving. In the session, losses in non-energy resources and consumer nondurables outweighed gains in tech, retail and transportation. SNC-Lavalin Group Inc. Shares rose after it was said that its subsidiary had secured an $8.4 million contract with the Romanian firm.

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Canada’s S&P/TSX Composite Index rose 0.39% to 21632.07. Blue-chip S&P/TSX 60 was up 0.44% at 1308.05.

SNC-Lavalin Group Inc. shares rose 1.2% to C$33.33 after it said its subsidiary Candu Energy Inc. won a contract to provide engineering services during the initial phase of a precursor project to complete the CANDU reactor units 3 and 4 in Romania.

Other market movers:

Shares of Calfrac Well Services Ltd rose 7.1% to C$5.90 after it said it had increased its line of credit to Canadian $250 million, approximately US$197.3 million, and increased its capital budget as it Wants to expand its North American operations.

Shares of Green Impact Partners Inc fell 1.2% to C$4.94 on news that it expects lower short-term earnings as it prioritizes development of its renewable natural gas projects during 2021 and 2022.

Write to Adriano Marchese at [email protected]

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