By Adriano Marchese

Toronto stocks were firmly higher in midday trading Wednesday, thanks to a push upward from most of Canada's sectors. The leaders were tech, materials and commercial services stocks, which offset losses primarily in communications, health services and consumer services.

Canada's S&P/TSX Composite Index was up 0.4% at 30457.02 and the blue-chip S&P/TSX remained virtually flat at 1790.58.

MEG Energy shares rose 5.4% to 29.76 Canadian dollars ($21.33) after Cenovus Energy proposed a higher offer to buy out the company as it looks to stave off rival Strathcona Resources. The new cash offer is for C$29.50 per MEG share, up from the previous C$27.25 offer back in mid-September.

Other market movers:

K92 Mining's shares rose 11% to C$19.44 after the Canadian miner affirmed its production target for the year and said it has already delivered 80% of the lower end of the company's annual guidance of 160,000 to 185,000 gold-equivalent ounces within the first three quarters.

Teck Resources lowered its output expectations for the year after a review of its operations found continued challenges at its major northern Chile copper project. Still, shares rose 2.8% to C$60.84.

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

(END) Dow Jones Newswires

October 08, 2025 12:04 ET (16:04 GMT)

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