Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,667.83, down 60.45 points).
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 26 cents, or 3.39 per cent, to $7.93 on 20.1 million shares.
Aphria Inc. (TSX:APHA). Health care. Up 67 cents, or 8.9 per cent, to $8.20 on 14.9 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up eight cents, or 3.8 per cent, to $2.18 on 9.8 million shares.
RNC Materials Corp. (TSX:RNX). Metals. Up five cents, or 10 per cent, to 55 cents on 7.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 19 cents, or 0.95 per cent, to $19.85 on 6.5 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down nine cents, or 3.9 per cent, to $2.22 on 5.9 million shares.
Companies reporting major news:
Cenovus Energy Inc. (TSX:CVE). Up six cents to $10.10. Oilsands producers Cenovus Energy and Athabasca Oil Corp. have announced capital budgets that restrict spending to what’s required to almost maintain current production levels in 2019. Cenovus said it will spend between $1.2 billion and $1.4 billion next year, down about four per cent from this year’s budget, with a target of a two per cent decline in overall production to between 472,000 and 500,000 barrels of oil equivalent per day in 2019. Smaller Athabasca is cutting its spending by about half and will also reduce the number of Calgary head office staff by 25 per cent and cut its executive and director salaries by 10 per cent to save money.
Enbridge Inc. (TSX:ENB). Up three cents to $42.12. Enbridge is proposing a fundamental change in how it assigns space on its Mainline pipeline system that will allow up to 90 per cent of its capacity to be reserved for priority customers. The 2.85-million-barrel-per-day network of pipelines operates as a common carrier, where customers nominate the volume of crude they would like to ship each month. Those nominations have exceeded the volume available for much of 2018, leading to “apportioning” or cutbacks in all shipments, which have angered many producers.
MTY Food Group Inc. (TSX:MTY). Down 22 cents to $62.77. MTY Food has signed a deal to acquire South St. Burger, a chain of gourmet burger restaurants, for an undisclosed price. The burger chain will join MTY’s stable of restaurants that includes food court staples such as Thai Express, Vanellis and Manchu Wok as well as Baton Rouge, Pizza Delight and Scores restaurants. South St. has 26 franchised and 14 corporate restaurants.
The Canadian Press