TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,337.02, down 320.18 points.)
Supreme Cannabis Company Inc. (TSX:FIRE). Health care. Unchanged at 17.5 cents on 21.6 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Down 84 cents, or 4.47 per cent, to $17.96 on 14.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down nine cents, or 12.86 per cent, to 61 cents on 14.5 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down one cent, or 0.13 per cent, to $7.55 on 10.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 63 cents, or 1.45 per cent, to $42.96 on 10.1 million shares.
Air Canada (TSX:AC). Industrials. Down $1.01, or 4.8 per cent, to $20.02 on 8.9 million shares.
Companies in the news:
Suncor Energy Inc. (TSX:SU). Down 59 cents or 2.7 per cent to $21.39. Ottawa says it is referring the impact assessment of a Suncor Energy Inc. oilsands mine extension in northern Alberta to an independent review panel. The review is in the public interest given the extent to which the open pit project could adversely affect areas of federal jurisdiction, and considering concerns expressed by the public and Indigenous groups, Environment Minister Jonathan Wilkinson said Friday. The Impact Assessment Agency of Canada is to work with the Alberta Energy Regulator to co-ordinate federal and provincial regulatory processes, he said, including the potential for a joint review panel. Its next steps are to invite public and Indigenous comment on the draft impact statement guidelines and the public participation plan before finalizing both.
Air Canada — New restrictions on flights from the Caribbean and Mexico announced Friday are likely to trigger bankruptcies in Canada’s airline sector and force permanent closures for airports and travel agencies, aviation experts say. John Gradek, a lecturer at McGill University and the head of its Global Aviation Leadership Program, said Sunwing and Transat A.T. Inc. are most at risk of bankruptcy, given their reliance on flights to sun destinations. At WestJet Airlines Ltd. and Air Canada, Gradek said he expected further cuts, including layoffs of between 400 and 500 at WestJet and around 2,000 at Air Canada. For Air Canada, flights to sun destinations represent around 12 per cent of total revenue, which would translate to around $200 million in lost revenue between now and April 30, Gradek estimated.
Domtar Corp. (TSX:UFS). Up 70 cents or 1.9 per cent to $38.30. Domtar Corp. says president and chief executive John Williams has contracted COVID-19 and will take a temporary medical leave of absence. The pulp and paper company says chief financial officer Daniel Buron will assume Williams’s authority and responsibility until he returns. Buron will also continue in his role as CFO. The company says its board expects the business to continue to operate as normal. Domtar manufactures and sells a wide variety of pulp, paper and personal care products.
Bombardier Inc. — Bombardier Inc. reported lower-than-expected net proceeds from the sale of its rail business to Alstom, attributing the decline to the division’s lower cash generation in the fourth quarter. Bombardier, which confirmed the closing of the deal Friday, said net proceeds from the sale were US$3.6 billion, down from the US$4 billion it had expected in September. In a news release, Bombardier said the lower proceeds were also due to “disagreements between the parties as to certain adjustments which Bombardier intends to challenge.” The company didn’t specify the exact source of the disagreements.
This report by The Canadian Press was first published Jan. 29, 2021.
The Canadian Press