FINWIRES · TerminalLIVE
FINWIRES

TSX Falls 230 Points at Midday in Broad Decline

By

The Toronto Stock Exchange is down 230 points at midday with most sectors lower.

Miners and healthcare are the best performers, up 1.9% and 1.3%, respectively.

Info tech is the biggest laggard, 2%.

In other news, the federal and Alberta governments are likely to announce a deal on industrial carbon pricing this Friday, CTV News reports, citing unnamed sources.

The sources also say Canada and Alberta are working around the idea of setting the $130-a-tonne price by 2040, as opposed to 2030, CTV notes.

In stocks, Boyd Group Services (BYD.TO) is down near 12% to a multi-year low of $134.94 after it reported its first-quarter results this morning.

Related Articles

Mining & Metals

CIBC Raises Exchange Income's Price Target to C$123.00 From C$120.00

CIBC Capital Markets maintained its outperformer rating on the shares of Exchange Income (EIF.TO) and raised its price target to C$123.00 from C$120.00 after the company reported its first-quarter results on May 11.EIF entered 2026 with "solid operating momentum, delivering results ahead of expectations and reinforcing confidence in the durability of its diversified model," said CIBC.Management maintained its formal EBITDA guidance range of $825MM-$875MM but now expects performance to track toward the upper end, supported by strength in Aerospace & Aviation and improving trends in Manufacturing, noted CIBC and added that while the guidance range was not raised, management was explicit that this reflects a cautious stance in the context of ongoing geopolitical uncertainty, particularly around fuel markets.CIBC noted that, operationally, the business is seeing "encouraging demand signals" in the north, with passenger traffic into Nunavut growing faster than typical population trends."Management attributes this to increasing government and infrastructure-related activity in the region," said CIBC. "While still early, commentary suggests this may represent the beginning of a multi-year build-out tied to sovereignty, defence, and resource investment in Northern Canada."Beyond core airline operations, Canadian North also provides "incremental strategic value" through its Boeing 737 exposure, said CIBC and added that this expands Regional One's data set and supports EIF's "stated ambition" to grow its presence in narrowbody aftermarket parts and leasing through the Mach2 platform.Tariff exposure "remains manageable" at the consolidated level, said CIBC and further added that the impact is largely confined to the Multi-Storey Window Solutions business, where recent changes to tariff calculation methodology have increased costs on cross-border shipments."In response, EIF is adjusting production flows, aligning U.S. production with U.S. demand and vice versa, which mitigates part of the impact," added CIBC. "Other Manufacturing businesses are largely insulated given their domestic focus and USMCA compliance."Price: $106.60, Change: $+2.24, Percent Change: +2.15%

$EIF.TO
Mining & Metals

BetterLife Pharma Appoints Doug Drysdale as Executive Chair

BetterLife Pharma (BETR.CN) on Wednesday said it appointed Doug Drysdale as executive chair.Drysdale is currently BetterLife's corporate advisor and a former chief executive officer of Cybin (CYBN), said the company."We are delighted to welcome Doug to our Board of Directors," said chief executive Ahmad Doroudian. "His proven global leadership, underscored by a track record of executing multiple successful transactions across diverse markets and therapeutic indications, brings a depth of strategic insight and operational expertise that will meaningfully strengthen BetterLife. Doug's experience navigating complex deal environments and scaling opportunities across jurisdictions will be invaluable as we continue to advance our growth strategy and create long-term shareholder value."The company's shares were last seen unchanged at $0.065 on the Canadian Securities Exchange.

$BETR.CN
Mining & Metals

Grizzly Discoveries to Raise $1.08 Million Via a Private Placement Offering

Grizzly Discoveries (GZD.V) on Wednesday said it is launching a private placement offering of units, flow-through (FT) units, and CMFT units for proceeds of up to $1.08 million.The offering consists of up to 12.3-million units and up to 3.1-million of any combination of units, FT units and CMFT units. Each unit, priced at $0.065 apiece, consists of a share and a three-year warrant to buy a share for $0.12.Each FT unit, priced at $0.08, is made up of a share and one half of a three-year warrant to buy a share for $0.12.Each CMFT unit, priced at $0.09, is made up of a flow-through share and one half of a three-year warrant to buy a flow-through share for $0.12.Proceeds will be used for general working capital, mineral rights acquisition. Any proceeds from the FT units will be used for exploration of its mineral properties, and any proceeds from the CMFT units will be used for the exploration of its mineral properties specifically targeting critical minerals.Shares of the company were last seen unchanged at $0.07 on the TSX Venture Exchange.

$GZD.V