TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,599.19, up 141.41 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 23 cents, or 0.83 per cent, to $27.63 on 31.4 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 34 cents, or 1.25 per cent, to $26.82 on 17.1 million shares.
BCE Inc. (TSX:BCE). Telecommunications. Down six cents, or 0.1 per cent, to $57.70 on 11.7 million shares.
Trican Well Service Ltd. (TSX:TCW). Energy. Up 10 cents, or 5.18 per cent, to 2.03 on 11.6 million shares.
The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up 2.5 cents, or 9.4 per cent, to 29 cents on 10.5 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down one cent, or 0.03 per cent, to $38.59 on 9.5 million shares.
Companies in the news:
Inter Pipeline Inc. (TSX:IPL). Energy. Up 31 cents, or 1.7 per cent, to $18.21. A hostile takeover offer by Brookfield Infrastructure Partners LP that values Inter Pipeline Ltd. at $7.1 billion has been officially rejected by the target company. Inter Pipeline said Tuesday its board unanimously recommends shareholders reject the bid based on advice from its financial and legal advisers, and the recommendation of a special committee of independent directors. Brookfield launched a formal takeover bid for Inter Pipeline last month. It is offering $16.50 per share in cash or 0.206 of a Brookfield Infrastructure Corp. class A exchangeable share, with the maximum cash available set at $4.9 billion. The offer is expected to expire on June 7.
Royal Bank (TSX:RY). Down 19 cents to $114.30. Royal Bank of Canada chief executive David McKay said Tuesday he foresees inflationary pressure building in the economy as it rebounds from the COVID-19 pandemic. With rising input prices for labour and commodities, it could create a challenge for central bankers, McKay said in a webcast speech at the RBC Capital Markets Financial Institutions Conference. The comments came ahead of a Bank of Canada interest rate announcement Wednesday that is expected to reveal how the central bank is thinking about the economy and setting interest rates, which were cut to historic lows early in the pandemic.
SNC-Lavalin. (TSX:SNC). Down $1.61 or 6.1 per cent to $24.90. SNC-Lavalin Group Inc. said Tuesday it expects to see some year-over-year revenue growth at its main business this year as it reported bigger losses for its final quarter of 2020. Chief executive Ian Edwards told analysts in a conference call that 2020 had been transformative, including progress on a strategic divestment of resource businesses. The Montreal-based engineering firm's net loss attributable to shareholders totalled $702.7 million for the quarter ended Dec. 31, compared with $292.9 million in the fourth quarter of 2019.
This report by The Canadian Press was first published March 9, 2021.
The Canadian Press