Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,307.73, down 4.49 points).
Barrick Gold Corp. (TSX:ABX). Materials. Down 22 cents, or 1.06 per cent, to $20.59 on 5.3 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 1.78 per cent, to $2.21 on 4.8 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Down 15 cents, or 0.21 per cent, to $70.98 on 4.4 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up five cents, or 0.99 per cent, to $5.08 on 4.4 million shares.
Aleafia Health Inc. (TSX:ALEF). Health care. Up 15 cents, or 12.2 per cent, to $1.38 on 4.4 million shares.
Encana Corp. (TSX:ECA). Energy. Down nine cents, or 1.36 per cent, to $6.54 on 4.3 million shares.
Companies in the news:
Transat AT. (TSX:TRZ). Down 77 cents or 5.4 per cent to $13.42. The board of directors of Transat AT Inc. has approved a $520-million takeover offer by Air Canada, a deal that faces legal and regulatory scrutiny along with resistance from major Transat shareholders. The companies announced Thursday that Air Canada will pay $13 per share for the travel company. Under the agreement, Air Canada said it plans to preserve the Transat and Air Transat brands and keep the tour operator’s head office and key functions in Montreal. In approving the Air Canada offer, the Transat board turned down a rival bid by Group Mach Inc., a Quebec real estate developer that offered $14 per share or $527.6 million for Transat.
Shaw Communications Inc. (TSX:SJR.B). Up eight cents or $26.74. Shaw’s Freedom Mobile wireless service added nearly 62,000 subscribers in its latest quarter, and improved customer retention, showing it’s providing real competition to Canada’s Big Three carriers. The Calgary-based mobile company — which operates wireless networks only in Ontario, Alberta and British Columbia — remains far smaller than any of its national rivals and retains a newcomer’s feistiness. In fact, Shaw Communications Inc. claimed Thursday that Freedom’s rivals have been forced to adjust their pricing strategy in response to its Big Gig plans.
Empire Co. Ltd. (TSX:EMP.A). Up $1.62 or 5.17 per cent to $32.97. The parent company of Sobeys and Safeway grocery stores plans to focus on innovation as it wraps a multi-year cost-saving initiative that’s exceeded expectations, chief executive Michael Medline says. Two-thirds of the way through a three-year transformation plan, dubbed Project Sunrise, Medline confirmed the company would exceed the $500 million target after achieving $200 million in savings in the 2019 financial year. The cost-saving program came after Empire bungled its $5.8-billion acquisition of Safeway in 2013.
WestJet Airlines Ltd. (TSX:WJA). Unchanged at $30.72. WestJet Airlines says it is one step closer to a joint venture with Delta Air Lines after getting the green light from Canada’s competition watchdog. The Calgary-based carrier says the Competition Bureau gave clearance in a letter stating it does not intend to challenge the proposed deal. The transborder agreement announced last July would expand the two carriers’ codesharing agreement — where passengers can purchase seats from one airline on a flight operated by another. For WestJet, the joint venture would open up more of the southern U.S. and western European markets via Delta flights through airports in Atlanta and Barcelona.
The Canadian Press