By Adriano Marchese
Canadian stocks began the week on a positive note, with the S&P/TSX Composite Index rising by 191.11 points mid-trading on Monday. Tech and healthcare were the leaders while the energy sector dragged. However, Tamarack Valley Energy Ltd. shares rose after announcing that it expects full-year oil production to be above its guidance for 2021 after seeing strong results in its fourth quarter.
At midday, Canada's S&P/TSX Composite Index was up 0.92% at 20932.86. The blue-chip S&P/TSX 60 rose by 0.86% to 1271.79.
Tamarack Valley Energy Ltd. shares rose 2.8% to C$4.89 after it said it achieved fourth-quarter average production of 40,384 barrels of oil equivalent a day. Full-year production came to about an average of 34,562 barrels a day, ahead of its target of 34,250 barrels a day on average.
Other market movers:
Shares in BlackBerry Ltd. were 3.7% higher at C$10.44 after it said that it will sell virtually all of its non-core patent assets to U.S.-based special purpose vehicle Catapult IP Innovations Inc. for $600 million.
Fire & Flower Holdings Corp. shares were 7% higher at C$4.77 after announcing it had amended certain terms on its option agreement with Fire & Flower US Holdings Inc.
Shares in ADF Group Inc. jumped 11% to C$1.76 after the company said it won C$100 million worth of contracts in Canada and the U.S.
Orca Gold Inc. shares rose 8.5% to C$0.45 after it said Perseus Mining Ltd. acquired a 15% shareholding from Resolute Mining Ltd.
Shares of BRP Inc. rose 1.6% to C$105.14 after it said it will create a design studio in southern France as it looks to expand into Europe.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-31-22 1216ET
