TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,172.34, up 150.96 points.)
Barrick Gold Corp. (TSX:ABX). Materials. Down four cents, or 0.19 per cent, to $21.15 on 17.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 24 cents, or 0.54 per cent, to $45.09 on 16.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 34 cents, or 1.47 per cent, to $23.53 on 15 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 13 cents, or 0.23 per cent, to $57.32 on 9.1 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up $1.26 cents, or 1.72 per cent, to $74.62 on 6.3 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 25 cents, or 2.38 per cent, to $10.26 on 6.3 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Up 42 cents, or 0.73 per cent, to $58.18. Rogers Communications Inc. will now spend $261 million to physically split its wireless and wireline networks following the July 8 outage and says it is not in a position to quantify the direct economic losses caused by the disruption. The comments come in a Aug. 22 letter requested by the Canadian Radio-television and Telecommunications Commission (CRTC) that provides additional information pertaining to the outage, which affected million of Canadians. The splitting of networks was previously expected to cost $250 million. The length of time it will take to separate the networks was redacted, however, along with other details on the measure. Rogers also says in the letter that it does not have the necessary data to determine the exact economic losses caused by the outage.
Aurora Cannabis Inc. (TSX:ACB). Up 17 cents, or 8.42 per cent, to $2.19. Aurora Cannabis Inc. has signed a deal to buy a controlling interest in Bevo Agtech Inc., a supplier of vegetable seedlings and flowers. Under the deal, the cannabis company will acquire a 50.1 per cent stake in Bevo for $45 million plus up to an additional $12 million that is conditional on Bevo achieving certain financial milestones at its Site One facility in Langley, B.C. Bevo has also agreed to acquire the company's Aurora Sky facility in Edmonton. In connection with the Aurora Sky transaction, Bevo will pay up to $25 million based on the achievement of certain financial milestones. Aurora announced plans earlier this year to close its Aurora Sky facility as part of changes at the company.
Toronto-Dominion Bank (TSX:TD). Up 63 cents, or 0.74 per cent, to $86.06. TD Bank Group followed several of its peers in reporting a profit drop for the third quarter as banks set aside funds for a potential recession ahead, even as loans continued to grow and consumer savings rates remained elevated. The return to climbing provisions for credit losses, which are counted against income, has been one of the dominant trends so far this earnings season with only BMO left to report next week. Banks rode a wave of profit beats last year as they unwound portions of the provisions they had built up in the early days of the pandemic, and are now seeing the reverse as they build reserves because rising central bank interest rates increase the likelihood of a recession. TD, which set aside $351 million in the latest quarter for potential loan losses compared with a $37-million recovery last year, noted that the move is prudent for potential risks ahead but that both loan provisions and bad loans remain low.
This report by The Canadian Press was first published Aug. 25, 2022.
The Canadian Press
