TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,958.58, down 299.85 points.)
Aphria Inc. (TSX:APHA). Health care. Up 24 cents, or 4.72 per cent, to $5.33 on 10.7 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down nine cents, or 6.47 per cent, to $1.30 on 10.6 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down 1.5 cents, or 3.19 per cent, to 45.5 cents on 10 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down six cents, or 1.66 per cent, to $3.56 on 9.2 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down five cents, or 0.59 per cent, to $8.45 on 7.9 million shares.
B2Gold Corp. (TSX:BTO). Materials. Down one cent, or 0.16 per cent, to $6.42 on 7.8 million shares.
Companies in the news:
Shaw Communications Inc. (TSX:SJR.B). Down 48 cents, or 2.1 per cent, to $22.23. More signs of trouble emerged in Canada’s telecommunications sector as a result of COVID-19 this week when Shaw Communications announced it would temporarily lay off 10 per cent of its workforce despite surging demand for wireless, internet and cable services as Canadians work and entertain themselves from home in an effort to combat the pandemic. Shaw’s move follows Quebecor’s announcement last month that it would temporarily lay off 10 per cent of its workforce — also roughly 1,000 people — to comply with a provincial order to discontinue non-essential business activity as part of the fight against the COVID-19 virus.
BRP Inc. (TSX:DOO). Down $1.56, or 5.5 per cent, to $26.66. BRP Inc. announced Wednesday it would temporarily lay off office workers as part of cost reduction measures prompted by the COVID-19 pandemic. The maker of Ski-Doo snowmobiles and Sea-Doo watercraft said “some employees” will be laid off or furloughed, while others will work reduced hours or fall subject to permanent layoffs. The move comes amid a new hiring freeze and after the company suspended all production lines and temporarily laid off the majority of its assembly line workers at its 10 plants across the globe.
Canadian National Railway Co. (TSX:CNR). Down $1.21 to $108.71. Canada’s two main railways face a bleak year ahead as a looming recession weighs on freight volumes. Carloads fell more than 17 per cent year over year last week, part of a growing decline in shipments since the start of the year and accelerated by the COVID-19 pandemic. National Bank analyst Cameron Doerksen expects volumes at Canadian National Railway Co. and Canadian Pacific Railway Ltd. will drop “significantly” in April and “even more” in May as industrial supply chains remain shut down and retail severely curtailed.
This report by The Canadian Press was first published April 15, 2020.
The Canadian Press