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Toronto Stocks Slip; Canada Goose, West Fraser Timber Gain on Buyback News

08/18/2021 | 12:23pm EDT

By Adriano Marchese

Stocks in Toronto were marginally lower at midday on Wednesday with utilities, non-energy minerals and health services leading the drag in the session. Canada Goose and West Fraser were among the top gainers after both announced updates on their share buyback programs.

Canada's S&P/TSX Composite Index fell slightly to 20358.17. The blue-chip S&P/TSX 60 was virtually flat at 1225.65.

Canada Goose Holdings Inc. shares rose 5% after the company said it would purchase and cancel up to 5.9 million shares before next August. West Fraser Timber Co. shares rose 3.2% after it said it expects to take up and pay for approximately 10.3 million shares, representing an aggregate purchase price of C$1.0 billion.

Other market movers:

BlackBerry Ltd. shares rose 4.2% as Canaccord Genuity upgraded the stock rating to hold from sell.

Shares in Tilray Inc. were up 3.9% after the company said that it had agreed to acquire convertible bonds of U.S. cannabis company MedMen Enterprise Inc., which is seen as a path to own MedMen if marijuana is legalized in the U.S.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

08-18-21 1222ET

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