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TSX up 14 Points at Midday With Commodities The Worst Performers

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The Toronto Stock Exchange is up just 14 points at midday on Wednesday in choppy trade, with the telecoms and financials sectors the best performers.

Limiting gains are the materials and energy sectors, down 2.7% and 1.4%, respectively.

In economic news, the Bank of Canada kept the benchmark rate at 2.25%. The bank noted in a statement that "sources of economic growth appear to be broadening". It projects the economy will grow by 1.8% in both 2027 and 2028.

In stocks, battery manufacturer Electrovaya (ELVA.TO) shares surged over 40% to a record high of C$15.79 after it announced a commercial deal with Amazon (AMZN) for the use of its infinity battery technology in Amazon's material handling operations.

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Loblaw Enters Automatic Share Purchase Plan for EQB Stock

Loblaw Companies (L.TO)on Tuesday said it entered into an automatic share purchase plan with a broker to facilitate purchases of EQB (EQB.TO) common shares in connection with the closing of the sale of President's Choice Bank and certain affiliated entities to EQB.The broker may purchase up to a maximum number of EQB shares that, together with the 8.46-million shares already owned by Loblaw, would equal the lesser of 10.60 million shares or 24.90% of EQB's issued and outstanding common shares at any given time.The automatic share purchase plan will terminate once the maximum amount has been acquired, unless ended earlier under its terms.Loblaw shares closed down C$0.78 to C$64.18 on Toronto Stock Exchange on Tuesday. While EQB shares closed C$0.75 down to C$136.51.

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Bird Construction Secures C$1 Billion in New Project Awards

Bird Construction (BDT.TO) after trade Tuesday announced about C$1 billion in new project awards and agreements.The company said it was selected as the preferred negotiating proponent for a multi-year nuclear contract. Bird also secured several major contracts, including marine and dredging work in British Columbia, a three-year furnace maintenance contract, and a renewed three-year industrial services contract.Bird will support an Indigenous-led partnership delivering site earthworks and underground services for a major mine development in Northern Quebec. The company was also awarded a contract to build a liquefied petroleum gas rail loading facility in Alberta for a Canadian energy infrastructure client, according to the statement."The diversity of these awards across sectors, geographies, and clients strengthens the quality of our backlog, enhances visibility into future performance, and positions us well to continue converting our growing opportunity pipeline into sustainable growth and long-term value," Chief Executive Teri McKibbon said.

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Apogee Minerals to Acquire Knife Lake Project From Trident Resources

Apogee Minerals (APMI.V) on Tuesday said it entered into an option agreement with Trident Resources (ROCK.V) to acquire a 100% interest in the Knife Lake Project in northeastern Saskatchewan, subject to underlying net smelter return royalties.Apogee will pay Trident C$400,000 in cash, issue to Trident 7.4-million shares of the company plus shares having an aggregate value of C$700,000, and incur a minimum of C$1 million in exploration expenditures on the property, Apogee said.The Knife Lake Project is an advanced-stage copper, silver, zinc, gold and cobalt exploration property. It hosts the Knife Lake Deposit, a near-surface, stratabound VMS-style deposit.

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