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TSX up 84 Points at Midday, With Most Sectors Higher

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The Toronto Stock Exchange is up 84 points at midday with most sectors higher.

Materials is the top gainer, up 1.7%, tracking higher precious metals prices.

The telecoms sector continued its downward decline, shedding 1.5%. Telus (T.TO) touched a fresh 52-week low of $15.03 in earlier trade.

In economic news, Statistics Canada reported real GDP advanced 0.5% for the month of April, after contracting 0.1% in March and above economists' expectations.

In stocks, Quarterhill (QTRH.TO) jumped near 46% to hit a multi-year high of C$2.50 per share after it announced it was acquiring Conduent Tolling Solutions' business for $70 million cash.

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Mining & Metals

Tilray Brands to Acquire HelloMD's Canadian Medical Cannabis Assets for an Undisclosed Sum

Tilray Brands (TLRY.TO) after trade Monday said it will acquire HelloMD's Canadian medical cannabis assets.The acquisition is expected to close following court approval on Monday, the company said, adding that it was the successful bidder in HelloMD's formal sale process.The deal expands Tilray's direct-to-patient capabilities and creates a fully vertically integrated medical cannabis business in Canada, supporting the company's global medical cannabis growth strategy, the company said.Tilray said the platform strengthens its existing healthcare network, which includes EU-GMP-certified cultivation and manufacturing, pharmaceutical distribution through CC Pharma, medical cannabis clinics, digital pharmacy services, and patient access platforms across North America, Europe, Australia, and other international markets."This acquisition establishes a fully vertically integrated medical cannabis framework for Tilray in Canada while strengthening our broader global platform, expanding patient engagement, practitioner support, and access in regulated medical markets," President Blair MacNeil said.Financial terms of the transaction were not disclosed..

$HMMJ.TO$TLRY.TO
Mining & Metals

Methanex to Indefinitely Idle Its Titan Plant in Trinidad After Gas-Supply Contract Talks Fail

Methanex (MX.TO, MEOH) after market close on Monday said it will begin the process of indefinitely idling its Titan methanol plant in Trinidad and Tobago after failing to secure a new natural-gas supply contract.The Titan facility, which has annual production capacity of 860,000 tonnes, is operating under a natural gas contract that expires in the third quarter of 2026. Methanex said it will preserve the plant to maintain the option of restarting operations should market conditions improve materially.The company added the Atlas methanol plant, a joint venture in which it holds a 63.1% economic interest, will remain indefinitely idled in a preserved state.The company said Titan is not currently contributing to its adjusted EBITDA and adjusted free cash flow, and it does not expect to incur material cash costs as a result of this decision.

$MEOH$MX.TO
Mining & Metals

Strategic Resources Joins 17-Million Euro Finnish Green-Steel Research Project

Strategic Resources (SR.V) after trade Monday said the University of Oulu, Finland, has launched the 17-million euro Future Sustainable Electric Steel Mill research project in collaboration with industrial partners, including the company.The project, which will run from 2026 to 2029, aims to develop the entire steelmaking chain by combining electric arc furnace technology with modernized hot rolling processes to support the transition to low-carbon steel production at SSAB's Raahe steel mill in Finland, the company added.The project selected Strategic Resources' vanadium-rich magnetite (VTM) concentrate from its Mustavaara project in northern Finland for advanced hydrogen-based ironmaking tests, the company said, adding that the selection highlights the suitability of its material for direct reduced iron (DRI) production and next-generation fossil-free steelmaking."As the global steel industry transitions away from coking coal toward hydrogen-based processes, the demand for high-quality local iron ore feedstock will only intensify. Our Company is well-positioned to be part of that supply chain," Chief Executive Sean Cleary said.

$SR.V