TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,394.36, up 158.15 points.)
Baytex Energy Corp. (TSX:BTE). Energy. Up 15 cents, or 34.09 per cent, to 59 cents on 16.2 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 88 cents, or 3.69 per cent, to $24.73 on 13.7 million shares.
Royal Nickel Corp. (TSX:RNX). Materials. Down one cent, or 1.89 per cent, to 52 cents on 9.8 million shares.
HEXO Corp. (TSX:HEXO). Health care. Down five cents, or 5.38 per cent, to 88 cents on 9 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Up 57 cents, or 8.55 per cent, to $7.24 on 7.4 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down half a cent, or 1.11 per cent, to 44.5 cents on 6.9 million shares.
Companies in the news:
BCE Inc. (TSX:BCE). x. Huawei Technologies Inc.’s ambitions to be a player in Canada’s 5G network took a major hit Tuesday as two of the country’s three largest telecom companies announced partnerships with the Chinese tech giant’s European rivals. Bell Canada announced Tuesday morning that Sweden-based Ericsson will be its second supplier of the radio access network equipment that has been Huawei’s main product line in Canada since entering the market in 2008. Later in the day, Telus Corp. announced that it had also selected Ericsson, as well of Nokia of Finland, as suppliers for its 5G networks.
Air Canada (TSX:AC). X. Air Canada has raised $1.59 billion from share and debt offerings intended to offset some of the carrier’s losses from the COVID-19 pandemic. The company said Tuesday it sold 35.4 million voting shares at $16.25 apiece for gross proceeds of $575.6 million. It also issued $1.02 billion in convertible senior unsecured notes due in 2025, well above its initial plan for about $540 million. The financing proceeds help to bolster Air Canada’s liquidity after confinement measures and border shutdowns “destroyed demand and depleted cash,” chief financial officer Michael Rousseau said in a release.
Molson Coors Beverage Co. (TSX:TPX.B). x. Molson Coors Beverage Co. will eliminate about 190 temporary and permanent jobs in Quebec by the end of 2021 following its move to a new brewery complex south of Montreal. The company told employees Tuesday that the more automated facility being built in Longueuil will have new technologies that will improve its efficiency. Molson says 87 permanent and 101 temporary employees will be affected over the next 20 months. Teamsters union spokesman Stephane Lacroix says workers are in limbo because several details about the plant’s restructuring still have to be clarified.
This report by The Canadian Press was first published June 2, 2020.
The Canadian Press