Canadian Market Modestly Higher At Noon; Docebo Soars On Strong Results

(RTTNews) - After a flat start and a subsequent fall to lower levels, the Canadian market has recovered and is modestly higher around noon on Friday, led by gains in technology, materials and financials sectors.

The benchmark S&P/TSX Composite Index is up 78.45 points or 0.37% at 21,396.53 at noon.

Technology stock Docebo Inc (DCBO.TO) is soaring 15.7% on strong results. The company reported fourth-quarter net income of $3.2 million, or $0.10 per share, compared to net income of $1.6 million, or $0.05 per share in the year-ago quarter.

Coveo Solutions (CVO.TO) is gaining 3.6%, while Alithya Corp (ALYA.TO), Lightspeed Commerce (LSPD.TO), Softchoice Corp (SFTC.TO), Kinaxis Inc (KXS.TO), Converge Technology Solutions (CTS.TO) and CGI Group Inc (GIB.A.TO) are up 1.5 to 2.3%.

Among materials shares, Hudbay Minerals (HBM.TO) is climbing nearly 7%. Lundin Gold Inc (LUG.TO) is gaining 3%. The company reported fourth quarter 2023 net income of $11.06 million, as against a net loss of $68.3 million in the year-ago quarter.

Ssr Mining Inc (SSRM.TO) is up 4.3%. Agnico Eagle Mines (AEM.TO), New Gold Inc (NGD.TO), Osisko Mining Inc (OSK.TO), Alamos Gold (AGI.TO) and MAG Silver Corp (MAG.TO) are up 2 to 3%.

In the financials sector, CI Financial Corp (CIX.TO) is surging more than 6%, and Nuvei Corp (NVEI.TO) is up 5.5%. EQB Inc (EQB.TO), Fairfax Financial Holdings (FFH.TO) and Sun Life Financial (SLF.TO) are up 1.7% and 1.2%, respectively.

Jamieson Wellness Inc (JWEL.TO) reported a 5.4% jump in adjusted net earnings at $15.0 million in the fourth quarter ended December 2023, as a result of higher revenue and gross profit.The stock is down 3.4%.

Onex Corporation (ONEX.TO) is down 3.5%. The company reported net earnings of $373 million, or $4.81 per diluted share, for the quarter ended December 2023, compared to net earnings of $435 million, or $5.32 per share, in the corresponding quarter of the previous year.

TransAlta Corp (TA.TO) is gaining 6.3%. The company reported net loss of $84 million in the fourth quarter of 2023, significantly down from a net loss of $163 million a year ago.