By Adriano Marchese
Toronto stocks were in the red at midday on Thursday with most sectors pulling the main indexes down.
Health tech, tech and commercial services were the main laggards, offsetting gains in process industries, utilities and energy.
Canada's S&P/TSX Composite Index was down 0.6% to 32922.71, and the blue-chip S&P/TSX 60 declined 0.5% to 1907.61.
On the trade front Canada posted a goods-trade deficit of 3.65 billion Canadian dollars, the equivalent of about US$2.68 billion, according to Statistics Canada.
Wholesale sales declined 1% in January from the prior month to a seasonally adjusted C$85.16 billion, which was down more than the data agency's advance estimates, following a 1.8% rise in sales in December.
Meanwhile, building permits issued around the country rose in January, buoyed by industrial construction plans.
Descartes Systems Group shares advanced 5.6% to C$99.05 after the company reported stronger-than-expected earnings, pushing the stock higher after broader concerns around the software industry weighed on the sentiment.
Other market movers:
Ballard Power Systems shares rallied 15% to C$3.35 after it logged a narrower loss in the fourth quarter and said it is accelerating its focus on higher-margin service offerings to support the growing base of installed fuel-cells.
NFI Group shares rose 6.7% to C$16.95 after the bus-and-coach manufacturer reported higher fourth-quarter earnings and strong demand going into 2026.
Shares of grocer Empire were off 3.2% to C$47.17 after the company logged a loss in its third quarter as a major impairment tied to its e-commerce business wiped out the benefit of higher sales across the company.
MDA Space shares in Toronto retreated 5.8% to C$42.81 after it priced shares at $30.50 apiece as part of its $300-million initial public offering in the U.S.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 12, 2026 12:34 ET (16:34 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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