TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,391.52, down 26.93 points).
Encana Corp. (TSX:ECA). Energy. Up four cents, or 0.76 per cent, to $5.33 on 7.6 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.22 per cent, to $1.62 on 7 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up eight cents, or 0.17 per cent, to $47.50 on 4.9 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 11 cents, or 2.29 per cent, to $4.69 on 4.6 million shares.
Wallbridge Mining Co. Ltd. (TSX:WM). Materials. Up six cents, or 16 per cent, to 43.5 cents on 4.4 million shares.
Western Forest Products Inc. (TSX:WEF). Materials. Up seven cents, or 5.93 per cent, to $1.25 on 4.2 million shares.
Companies in the news:
SNC-Lavalin Group Inc. (TSX:SNC). Up $2.44 or 13.8 per cent to $20.12. SNC-Lavalin Group Inc. shares shot up Tuesday after the Liberal election win left open the possibility of a plea deal on fraud and corruption charges against the engineering firm. The beleaguered company’s shares were climbed, buoyed by investor hopes that the Liberal refusal to close the door on a deferred prosecution agreement will play out to SNC-Lavalin’s advantage ahead of a criminal trial. Attorney General David Lametti has refused to shut down the possibility of a remediation agreement with SNC.
Husky Energy Inc. (TSX:HSE). Up 23 cents or 2.5 per cent to $9.39. Calgary-based Husky Energy Inc. is confirming it is laying off staff but won’t say how many. The company controlled by Hong Kong billionaire Li Ka-Shing says the reductions are a result of steps taken to align its workforce with its capital plan and strategy. In a regulatory filing earlier this year, Husky indicated it had 5,157 permanent employees as of the end of 2018, little changed from the numbers at the end of 2016 and 2017. Husky, which reports its third-quarter results on Thursday, announced at its investor day last spring that it would slash its average budget by $350 million per year to $3.15 billion over the next five years, accomplishing that in part by cutting costs.
ARC Resources Ltd. (TSX:ARX). Down five cents to $5.54. Investors in the oil and gas sector were shrugging off the federal election results despite predictions that a Liberal minority propped up by the NDP and Greens would result in policies that hurt the industry. Shares in several Canadian oil and gas companies rose Tuesday morning, pushing the S&P/TSX Capped Energy Index higher, although it remains more than 25 per cent below levels set a year ago. Hal Kvisle, chairman of producer ARC Resources Ltd. and a former CEO of pipeline builder TC Energy Corp., says he doesn’t think the Liberals will cancel or delay the Trans Mountain pipeline expansion or the LNG Canada project on B.C.’s coast, despite opposition to both.
Scotiabank (TSX:BNS). Down 10 cents to $75.19. Scotiabank says protests in the capital of Chile have “prompted” it to postpone an investor event that was set to be held in Santiago this week. The Toronto-based lender says in a release that it remains committed to hosting Scotiabank’s Investor Day in Santiago, but will push it back to early 2020. Protesters and police violently clashed Monday, the latest in continuing unrest that has left at least 11 dead and led the Chilean president to say the country is “at war.” The protests in Santiago began last week when hundreds of young people mobbed several subway stations to protest an increase in fares, but analysts say they were led by frustration and a growing sense of economic inequality.
This report by The Canadian Press was first published Oct. 22, 2019.
The Canadian Press