Toronto Stock Market Remains Steady as Bank of Canada Holds Interest Rates

Toronto stocks remained relatively flat on Thursday as investors continued to process the Bank of Canada's decision to maintain interest rates at 5% on Wednesday. While some sectors performed well, others experienced mixed results.

Sector Performance

The technology sector saw the most significant gains, followed closely by commercial services. However, health services struggled during this period.

Market Indices

• Canada's S&P/TSX Composite Index showed a slight uptick of 0.03% to reach 20,280.88.
• The blue-chip S&P/TSX 60, on the other hand, experienced a small decline of 0.06%, ending at 1,222.63.

Laurentian Bank of Canada

Laurentian Bank of Canada, which primarily focuses on the Quebec market, experienced a decrease in its shares by 1.6%, reaching 25.98 Canadian dollars ($19.11). The bank reported lower profits and revenue in the fourth quarter, partly due to one-time costs and charges.

Notable Market Movers

• ADF Group, a steel products maker, witnessed a significant rise in its shares by 17% to C$5.25 after reporting higher profits and revenue in the third quarter.
• Willow Biosciences, a biotechnology company listed in Toronto, saw its shares surge by 35% to C$0.14 following positive initial results from its feasibility program. The company plans to continue working on the commercialization of its BioOxi platform alongside its partner.