Toronto Stocks Shares Down; McCoy Global Shares Slide on Middle East Fighting

By Adriano Marchese

Toronto stocks were lower Friday with the S&P/TSX Composite Index on track to fall more than 3% for the week as fighting in the Middle East heads into its second week.

Shares of energy companies, the only sector gaining in the session, continue to rise as global supplies tighten. All other sectors were in decline with manufacturing, transportation and consumer discretionary stocks the main laggards.

Canada’s S&P/TSX Composite Index declined 1.1% to 33240.71 and the blue-chip S&P/TSX 60 was down 1.1% to 1924.35 on the day

Shares of Algonquin Power & Utilities slipped 12% to 8.29 Canadian dollars ($6.06) after the company lowered its outlook for 2027 due to a change in tax assumptions.

Other market movers:

Shares in Badger Infrastructure Solutions were down 7.7% at C$65.31 after fourth-quarter results missed expectations and the company disclosed new investments in its fleet and operations.

Methanex’s stock was off by 8.7% at C$71.27 after the company reported a loss in the fourth quarter due primarily to a noncash impairment charge tied to its New Zealand operations.

Shares of McCoy Global tumbled 18% to C$2.70. The company said it is taking steps to rein in costs and will suspend dividend payments due to disruptions in its business caused by fighting in the Middle East.

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

(END) Dow Jones Newswires

03-06-26 1246ET