Stocks in Toronto continued their upward momentum on Wednesday, with several sectors showing strong performance. However, British Columbia experienced a setback as port workers went on strike after rejecting a tentative deal. Nevertheless, overall market sentiment remained positive.
S&P/TSX Composite Index and S&P/TSX 60
The S&P/TSX Composite Index increased by 0.33% to reach 20443.80, while the blue-chip S&P/TSX 60 rose by 0.32% to reach 1225.93.
Westport Fuel Systems Forms Joint Venture
Westport Fuel Systems saw its shares surge by 20% to 15.31 Canadian dollars ($11.63) after forming a joint venture with Volvo. The aim of this partnership is to expedite the commercialization of Westport's fuel-system technology for long-haul and off-road use.
Other Market News
In other market news, Bitfarms, a Bitcoin mining company, acquired two power-purchase agreements in Paraguay, securing up to 150 megawatts of hydropower. This development pushed Bitfarms' shares up by 2.5% to C$2.43.
On the downside, ATS announced the acquisition of Odyssey Validation Consultants, a digitalization solutions provider based in Ireland, for an undisclosed amount. As a result, ATS shares dipped by 1.3% to C$63.31.