By Adriano Marchese

Toronto stocks rebounded Friday in midday trading, in line with U.S. markets, after a week marked by commodity- and tech-led declines. The gains were broad-based in the session, with the main upticks coming from a bounce-back in materials stocks, followed by tech and consumer discretionary stocks. Only communications and health services stocks were down.

On the broader economic front, Canada's job market began the year on a soft note, with fewer people looking for work and the unemployment rate retreating to its lowest level in 16 months at 6.5%. Employers in the country cut 24,800 jobs in January, according to Statistics Canada.

At midday, Canada's S&P/TSX Composite Index rose 1% to 32322.46 and the blue-chip S&P/TSX 60 advanced by 0.8% to 1875.18.

Arc Resources shares fell nearly 13% to 22.20 Canadian dollars ($16.19), as the company removed its underperforming asset, Attachie, from its guidance, offsetting its fourth-quarter performance.

Other market movers:

Shares of Open Text rose 6.3% to C$33.19 after the enterprise-software company reported better-than-expected revenue thanks to a solid performance from its content management cloud business.

Bitfarms shares rose by over 18% to C$2.76 after the digital infrastructure and energy company said its board approved the plan to redomicile to the U.S. from Canada with the aim of securing a better foothold in the country.

Capstone Copper shares advanced 4.9% to C$15.66 after the miner's Chilean mine workers union has ratified a multi-year collective agreement, ending a month-long strike.

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

(END) Dow Jones Newswires

February 06, 2026 12:11 ET (17:11 GMT)

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