TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,885.48, up 246.58 points.)
Cenovus Energy Inc. (TSX:CVE). Energy. Up 39 cents, or 7.49 per cent, to $5.60 on 11.3 million shares.
MEG Energy Corp. (TSX:MEG). Energy. Up 15 cents, or 5.14 per cent, to $3.07 on 8.9 million shares.
Air Canada (TSX:AC). Industrials. Up $2.11, or 14.43 per cent to $16.73 on 8.7 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up $5.05, or 32.9 per cent, to $20.40 on 8.2 million shares.
First Quantum Minerals Ltd. (TSX:FM). Materials. Up 79 cents, or 10.44 per cent, to $8.36 on 4.6 million shares.
Husky Energy Inc. (TSX:HSE). Energy. Up 24 cents, or 6.56 per cent, to $3.90 on 4.5 million shares.
Companies in the news:
Air Canada — The International Air Transport Association has proposed a series of measures aimed at relaunching the global air travel industry, including the mandatory use of face masks, a ban on lining up for onboard washrooms and an end to physical distancing. The organization says passenger face coverings remove the need for social distancing on board, which it defines as leaving middle seats open. Air Canada and WestJet Airlines Ltd. — both of which the association counts among its 290-odd members — say their pandemic policies block the sale of adjacent seats in economy class or throughout the entire plane.
TC Energy Corp. (TSX:TRP). Down $1.33 or 2.1 per cent to $61.38. A financial analyst says Alberta government backing means TC Energy Corp. can be more comfortable continuing construction of the Keystone XL pipeline this summer despite Joe Biden’s vow to kill it if he is elected president in November. Jennifer Rowland of Edward Jones says it’s not surprising that the campaign for the leading U.S. Democratic Party candidate said Monday that he would cancel the presidential permit for the project issued by President Donald Trump. She says the declaration, however, represents a significant risk for the US$8-billion project and would likely result in the Calgary-based company re-examining how prudent it is to continue construction.
Reitmans (Canada) Ltd. (TSX:RET). Unchanged at 27 cents. Reitmans (Canada) Ltd. has obtained court protection from its creditors under the Companies’ Creditors Arrangement Act to allow a restructuring of the women’s clothing retailer. The process will allow the company to implement a restructuring plan that addresses the impacts of COVID-19, which prompted retail outlets across Canada to shut their doors temporarily in an effort to help contain the pandemic from spreading. Reitmans closed 587 stores on March 17, but its e-commerce websites have remained open.
Chesswood Group Ltd. (TSX:CHW). Down 47 cents or 10.4 per cent to $4.06. Chesswood Group Ltd. says it is temporarily suspending its monthly dividend as part of its plan to resume funding new business in the U.S. as closure restrictions due to the pandemic begin to lift. The commercial equipment finance company says the decision was part of a move to also draw on its revolving credit facility as its customers’ businesses reopen. The suspension of the dividend follows a reduction of its regular payment to shareholders in April to 3.5 cents per share from seven cents due to the pandemic.
This report by The Canadian Press was first published May 19, 2020.
The Canadian Press