TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,049.47, up 47.20 points.)
Canadian Natural Resources (TSX:CNQ). Energy. Down 11 cents, or 0.25 per cent, to $44.72 on 11.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 16 cents, or 0.53 per cent, to $30.16 on 11.2 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Down $1.49, or 8.14 per cent, to $16.81 on 10.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 16 cents, or 1.33 per cent, to $12.17 on 7.3 million shares.
Great-West Lifeco Inc. (TSX:GWO). Financials. Down 18 cents, or 0.49 per cent, to $36.49 on 7.2 million shares
Manulife Financial Corp. (TSX:MFC). Financials. Down 36 cents, or 1.44 per cent, to $24.64 on 6.9 million shares.
Companies in the news:
TC Energy Corp. (TSX:TRP). Down 30 cents to $64.17. Even after its death, the divisive Keystone XL pipeline continued to leave Canadian energy industry experts at odds on Thursday, a day after TC Energy Corp. nailed the coffin shut on the project. While some suggested the pipeline's termination won't impact global emissions, others called it a significant step in the fight against climate change. As demand for fossil fuels wanes and more action is taken to address climate change, the need for pipeline capacity will increasingly diminish, said Chris Severson-Baker, the Pembina Institute's regional director for Alberta. The Keystone XL project, first approved by the National Energy Board in 2007, was designed to carry 830,000 barrels a day of crude oil from Hardisty, Alta., to Steele City, Neb. From there it would connect with the company's existing facilities to reach the U.S. Gulf Coast — one of the world's biggest oil refining hubs. The pipeline's cancellation means that rather than processing Canadian crude, those refineries will now import heavy oil from countries like Mexico and Venezuela, retired oilpatch executive Dennis McConaghy said. Construction on the pipeline was suspended earlier this year after newly elected U.S. President Joe Biden fulfilled a campaign promise to cancel its presidential permit. Still, experts say global energy demand has not gone away, and Canada's energy producers will rely on other projects to get heavy crude to market.
Air Canada (TSX:AC). Down 32 cents to $28.41. Air Canada says it will recall more than 2,600 employees as it prepares for an increase in demand for flights. The airline says the employees being recalled will include various roles, including flight attendants, and will be brought back in stages in June and July. Air Canada spokesman Peter Fitzpatrick says the airline moved to recall the workers because it is seeing vaccinations increase, COVID-19 cases decline and governments ease restrictions. He says the recall is part of its efforts to rebuild the airline's network and meet the expected demand for travel. Air Canada laid off tens of thousands of workers as the pandemic swept Canada, including 16,500 last March, when the crisis began. In April, the airline reached an agreement with Ottawa for a $5.9-billion aid package.
Transat AT Inc. (TSX:TRZ). Up six cents to $5.75. Transat AT Inc. is optimistic about the upcoming winter season as the tour operator and airline aims to be a leaner company with lower operating costs after flying is slated to resume on July 30. The travel company suspended operations on Jan. 29 after Ottawa requested a suspension of travel to Mexico and the Caribbean as well as the adoption of new quarantine measures and testing requirements. The quarterly results for the period ended April 30 reflected the company's lack of operations, with a net loss attributable to shareholders of $69.6 million or $1.84 per diluted share for the quarter. The result compared with a loss of $179.5 million or $4.76 per diluted share a year earlier at the start of the pandemic in Canada. Revenue for what was the company's second quarter totalled $7.6 million, down from $571.3 million in the same quarter last year. Transat's new CEO Annick Guérard said the company which includes Air Transat has already seen a mass of travellers booking in the previous week, and expect more activity after the federal government announced Wednesday that fully vaccinated travellers would no longer have to quarantine on return to Canada.
Canopy Growth Corp. (TSX:WEED). Down 13 cents to $31. Supreme Cannabis shareholders have voted in favour of the company being sold to Canopy Growth Corp. for $435 million. Supreme says 81.05 per cent of the votes cast were in favour of the deal. The sale needed at least a two-thirds majority vote to be approved. Under the deal, Supreme shareholders will receive 0.01165872 of a Canopy common share and 0.01 of a cent in cash for each Supreme share held. When Canopy announced it was buying Supreme in April, it had already garnered support from the boards of both companies but required approvals from shareholders and regulators. The deal will unite Smiths Falls, Ont.-based Canopy's brands including Tweed, Tokyo Smoke, Quatreau and Doja with Supreme's 7Acres, Sugarleaf and Hi-way lines.
This report by The Canadian Press was first published June 10, 2021.
The Canadian Press