By Adriano Marchese

Toronto stocks were firmly higher in midday trading Tuesday after spending a bumpy morning dipping below Monday's close. Most sectors were trending upward, with gains primarily in consumer durables, consumer discretionary and manufacturing. Only tech, communications and health services were in decline.

On the broader economic front, Canadian manufacturing activity weakened sharply last month as tariff uncertainty led to the biggest drop in new work since the height of the Covid-19 pandemic, data showed Tuesday. The metric declined to 46.3 in March, a second straight month below the 50 threshold separating expansion from contraction after the index fell to 47.8 the month before.

Canada's S&P/TSX Composite Index rose 0.5% to 25033.81 and the blue-chip S&P/TSX 60 increased by 0.4% to 1503.24.

Shares in Rogers Communications fell after a report said that it was close to signing a $7.7 billion, 12-year agreement to renew television rights with the NHL, nearly double the value of its current deal set to expire next summer.

Other market movers:

MDA Space has agreed to acquire satellite chipset maker SatixFy Communications in a deal worth $193 million. Shares fell 5.1% to C$26.09.

Canaccord Genuity Group shares rose 2% to C$8.58 after the financial services firm said it agreed to sell its U.S. wholesale market-making business as it looks to focus more on its investment-banking platform.

Endeavour Silver said it has struck a deal to buy its third producing mine for $145 million, its first foray into Peru and a big step toward its goal of becoming a major silver miner. Shares fell 14% to C$5.30.

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

(END) Dow Jones Newswires

April 01, 2025 12:02 ET (16:02 GMT)

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