Toronto Stocks Hover Around Flat; Ballard Power Systems Rises

By Adriano Marchese

Stocks in Toronto were slightly lower at midday on Monday after trading slightly below open for most of the morning. Canadian sector performance was mixed mid-trading with energy leading the declines amid weaker crude oil prices, followed by real estate and utilities. Meanwhile, gains in tech and consumer discretionary helped offset losses.

Canada’s S&P/TSX Composite Index were 0.05% lower, at 19881.68. The blue-chip S&P/TSX 60 edged 0.03%, to 1195.73.

Shares of Ballard Power Systems were higher 9.5% higher, reaching 6.30 Canadian dollars (US$4.72), after the company said it had plans to scale up output capacity of its proprietary graphite bipolar plates, one of the most expensive components of its fuel-cell stacks it manufactures.

Other market movers:

Comet Lithium shares were 20% lower, at C$0.56, after it said Chief Executive Officer Michael Ferreira would step down. The company said allegations against the executive of manipulating the company’s stock price were brought up against him by Quebec’s financial regulator.

Talisker Resources’ shares rose by 4.6%, to C$0.12, after the Canadian gold explorer said it reached a deal with Sprott Resource Streaming & Royalty that would provide funding for the development of its Bralorne project.

CubicFarm Systems shares jumped 50%, to C$0.03, after the agricultural technology company said its automated, controlled-environment growing technology was fully commissioned at Vertical Acres Farm.

Write to Adriano Marchese at