Toronto stocks are virtually unchanged; Magna International Slides 4Q Miss – 09 Feb 2024 12:16 p.m. EST

Written by Adriano Marchese

Toronto stocks were flat in mid-day trading on Friday. Markets closed slightly lower on Thursday, pushing the S&P/TSX composite index into negative territory for the year. Canada's economy added a net 37,300 jobs in January, just 15,000 below market expectations after employment showed little change in the previous three months.

Losses in the session were primarily in manufacturers' output, consumer durables and materials, which were offset by big gains in technology, while commercial services and technical services continued.

Canada's S&P/TSX composite was down 0.03% at 20,913.21 at midday, while the blue chip S&P/TSX 60 was flat at 1,264.10.

Shares of Magna International fell 7.6% to C$72.87 after the auto parts supplier missed expectations for its latest quarter.

Other market movers:

Shares of Telus rose 2.3% to C$23.48 after the Canadian telecommunications giant reported better fourth-quarter revenue and profit, benefiting from more subscribers to help it surpass 10 million mobile phone subscribers in the quarter.

Write to Adriano Marchese at [email protected]

(End) Dow Jones Newswires

02/09/24 1215ET