TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,858.34, up 9.98 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down 16 cents, or 9.7 per cent, to $1.49 on 40.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 11 cents, or 0.42 per cent, to $26 on 17.3 million shares.
Power Corp. (TSX:POW). Financials. Up 21 cents, or 0.61 per cent, to $34.59 on 14.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down $1.09, or 1.95 per cent, to $54.94 on 9.85 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 12 cents, or 5.83 per cent, to $2.18 on 9.3 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up $1.21, or 4.63 per cent, to $27.33 on 8.3 million shares.
Companies in the news:
Air Canada (TSX:AC). Down $1.22 or 2.6 per cent to $45. Air Canada is bracing for a rough first quarter as the effects of the novel coronavirus and the continued grounding of its fleet of Boeing 737 Max jets bite into sales. The company lost roughly 25 per cent of its narrow-body fleet after authorities around the globe banned the Max in March following two fatal crashes. Last month, Air Canada halted all flights to mainland China and its Toronto-Hong Kong route due to the spread of COVID-19. The dual blows mean adjusted earnings in the first quarter of 2020 are expected to generate about $200 million less than a year earlier, or about one-third lower than the $583 million in earnings before interest, taxes, depreciation and amortization in the first three months of 2019.
Bombardier Inc. — Bombardier Inc. saw shares drop as much as 10.3 per cent Tuesday after announcing the sale of its rail business to French train giant Alstom SA. The deal would see the Montreal-based transportation company shrink by more than half as it focuses solely on making private business jets. If approved by regulators, the US$8.2-billion transaction will help Bombardier slash its debt by half, capping a five-year turnaround plan that has seen the company shed numerous assets, including its commercial airplane division.
Centerra Gold Inc. (TSX:CG). Up 46 cents or 4.7 per cent to $10.23. Toronto-based Centerra Gold Inc. says an employee at its Kumtor Mine in the Kyrgyz Republic in Central Asia has been killed. The company says the person was operating an excavator which tipped over and slipped into a water-filled basin near the edge of Petrov Lake, about five kilometres northeast of the Kumtor mill site. It says an internal investigation has begun and mine managers are working closely with regulators and other state authorities to find the cause of the incident. Kumtor contributed about 600,000 of Centerra’s 783,000 ounces of gold production in 2019 despite being shut down in December following a waste rock dump movement that resulted in the loss of two of its employees.
Supremex Inc. (TSX:SXP). Down eight cents or 3.5 per cent to $2.23. Supremex Inc. says it has acquired Royal Envelope, an envelope manufacturer and printer in Ontario and Quebec, for $27.4 million. Royal Envelope was founded in 1989 by Peter Bowles and Lou Tucci. The company had approximately $30 million of revenue during its most recent financial year mainly from the sale of envelopes and printing services. Royal Envelope employs approximately 135 people at its two primary facilities in Concord, Ont., and LaSalle, Que. Supremex Inc. is a manufacturer and marketer of envelopes and a provider of paper-based packaging.
This report by The Canadian Press was first published Feb. 18, 2020.
The Canadian Press