TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,548.43, up 94.66 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Up seven cents, or 0.28 per cent, to $24.78 on 15.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 74 cents, or 2.24 per cent, to $33.74 on 10.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 29 cents, or 1.79 per cent, to $16.52 on 7.3 million shares.
Denison Mines Corp. (TSX:DML). Materials. Down two cents, or 0.92 per cent, to $2.16 on 6.3 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up six cents, or 3.37 per cent, to $1.84 on 5.6 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 16 cents, or 0.32 per cent, to $50.61 on 5.4 million shares.
Companies in the news:
Canadian Pacific Railway Ltd. (TSX:CP). Down 69 cents to $94.57. The first trains have rolled into Vancouver since flooding and landslides cut key supply links in southern British Columbia, Canadian Pacific Railway Ltd. said. CP cars loaded with Prairie grain and fuel chugged into the port city this morning after limited service resumed on washed-out tracks. The Calgary-based company said its rail corridor sustained damage in some 30 locations between Vancouver and Kamloops, B.C., with "significant loss of infrastructure" at 20 of them. Hundreds of employees and contractors have been working around the clock to repair rail lines after torrential rains and mudslides swallowed streets and devastated highways, tossing aside CP railcars and at least one locomotive along the Fraser Canyon near Hope, B.C. East of Lytton, B.C., tracks remain suspended above a chunk of the Trans-Canada Highway that was swept away by a landslide. Starting Nov. 14, flooding snarled the movement of goods between Canada's biggest port and B.C.'s Okanagan Valley region, displaced hundreds of residents and stranded thousands, leaving at least four people dead. Canadian National Railway Co. said Tuesday it also planned to restore "limited" service the next day along its southern B.C. rail corridor.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Down $2.32 or 4.6 per cent to $48.20. Alimentation Couche-Tard Inc. says labour shortages have been a big challenge for its convenience stores and suppliers, but the Quebec company believes the worst is behind it. The company says it faced a 7.7 per cent increase in operating expenses in its latest quarter, including about two per cent for employee retention measures. Labour shortages have also impacted suppliers, particularly in the U.S., from shortages of truck drivers to warehouse staffing and production delays caused by disruptions in receiving raw materials. But chief executive Brian Hannasch says it has seen recent improvements in the situation with staff turnover rates easing. The convenience store industry is less impacted than other retail because it has fewer overseas imports, but Hannasch said it is receiving less product selection as manufacturers faced with ingredient shortages focus on bestsellers. The situation is more acute in some markets with parts of the U.S. being more impacted while Europe and Canada are "relatively unaffected." Alimentation Couche-Tard also said it has faced cost increases in every category of its business, but has managed to pass that escalation to consumers through higher prices while maintaining volumes and margins.
Noront Resources Ltd. (TSX:NOT). Up one cent or 1.3 per cent to 76 cents. BHP Lonsdale Investments Pty Ltd. is extending is takeover offer for Noront Resources Ltd. as it continues talks with a major shareholder in the company regarding support for its proposal. The wholly owned subsidiary of BHP says it continues to talk with Wyloo Metals Pty Ltd., which had made an offer of its own for Noront, only to be outbid by the global mining giant. BHP raised its takeover offer, which has the support of Noront's board, to 75 cents per share from 55 cents after Wyloo made a proposal of 70 cents per share. Wyloo owns a 37.5 per cent stake in Noront. To allow more time for its talks to progress, BHP is extending its offer to Dec. 14. It had been set to expire on Nov. 30. Noront is developing several projects in the Ring of Fire region in northern Ontario.
This report by The Canadian Press was first published Nov. 24, 2021.
The Canadian Press