TORONTO – A number of the most lively corporations traded Friday on the Toronto Inventory Change:
Toronto Inventory Change (19,472.74, up 181.76 factors.)
Manulife Monetary Corp. (TSX:MFC). Financials. Down 42 cents, or 1.6 per cent, to $25.85 on 20.1 million shares.
Enbridge Inc. (TSX:ENB). Power. Down 33 cents, or 0.68 per cent, to $48.09 on 14.5 million shares.
Trevali Mining Corp. (TSX:TV). Supplies. Up 3.5 cents, or 15.22 per cent, to 26.5 cents on 9.7 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up 4 cents, or 4.44 per cent, to 94 cents on 9.6 million shares.
Suncor Power Inc. (TSX:SU). Power. Up 70 cents, or 2.5 per cent, to $28.66 on 7.8 million shares.
Canadian Pure Assets (TSX:CNQ). Up $1.32, or 3.27 per cent, to $41.70 on 7.4 million shares.
Firms within the information:
Telus Corp. (TSX:T). Up 17 cents to $26.29. Telus Corp. chief government Darren Entwistle mentioned Friday that the telecommunications firm will have the ability to scale back capital spending to $2.5 billion a 12 months or much less in 2023, after an accelerated funding plant introduced this week. The Vancouver-based firm and proprietor of certainly one of Canada’s three nationwide wi-fi networks mentioned Thursday it has raised its 2021 capital price range by $750 million, to $3.5 billion. Entwistle informed analysts Friday that about 90 per cent of the accelerated spending plan will probably be on fibre optic networks, 5G wi-fi networks and enhancements to enterprise processes. Earlier Friday, the corporate raised its quarterly dividend half a penny to 31.62 cents per share, up from 31.12 cents per share. Telus additionally reported its first-quarter revenue fell 5.7 per cent in contrast with a 12 months in the past as quite a few greater expense gadgets offset income progress at lots of its enterprise items. Telus mentioned its internet revenue attributable to frequent shares totalled $331 million or 25 cents per share for the quarter ended March 31 in contrast with $350 million or 28 cents per share a 12 months in the past. Working revenues and different revenue rose to $4 billion in contrast with $3.7 billion within the first quarter of 2020 — which included retail retailer closures throughout the early levels of the COVID-19 pandemic.
TC Power Corp. (TSX:TRP). Up 15 cents to $61.94. TC Power Corp. is reporting a first-quarter internet lack of $1.1 billion after taking a $2.2-billion after-tax asset impairment cost on its cancelled Keystone XL export oil pipeline. It says the impairment cost doesn’t but embrace the federal government of Alberta’s funding and ensures for the undertaking, that are anticipated to finally scale back the corporate’s internet publicity to about $1 billion. Keystone XL was suspended after newly elected U.S. President Joe Biden fulfilled a marketing campaign promise to cancel its presidential allow in January. Since then, shippers together with Cenovus Power Inc., Suncor Power Inc. and Imperial Oil Ltd. have reported non-cash writedowns on earnings associated to their commitments to it. In its quarterly report, TC Power mentioned comparable earnings with out the cost had been $1.108 billion or $1.16 per share, down from $1.109 billion or $1.18 per share within the year-earlier interval. It says income was $3.38 billion, down from $3.42 billion within the first quarter of 2020.
Cenovus Power Inc. (TSX:CVE). Down 15 cents, or 1.5 per cent, to $9.57. The CEO of Cenovus Power Inc. says greater than half of the job cuts from its takeover of rival Husky Power Inc. have been accomplished and it’s properly on the way in which to integrating and optimizing the 2 corporations’ oilsands, refining and different operations. On Friday, Cenovus reported a first-quarter revenue of $220 million in contrast with a lack of $1.8 billion a 12 months in the past, regardless of accounting for $245 million in one-time integration prices within the quarter associated to the $3.8-billion all-stock acquisition that closed in January. Cenovus reported income totalled $9.15 billion within the first three months of 2021, up from $3.96 billion in the identical quarter final 12 months, due to greater commodity costs and volumes. Upstream manufacturing was 769,254 barrels of oil equal per day, up from 482,594 boe/d a 12 months in the past, whereas downstream refinery throughput was 469,100 barrels per day, up from 221,100 bpd in the identical quarter final 12 months.
Air Canada (TSX:AC). Up 76 cents, or 3.1 per cent, to $24.92. Air Canada known as on Ottawa to ease journey restrictions because the airline, which reported a first-quarter lack of $1.3 billion, plans for its post-pandemic restoration. CEO Michael Rousseau mentioned the federal government should develop and talk a reopening plan as it’s cautiously optimistic that the nation is nearing an “inflection level” with the vaccination price rising in the midst of a troublesome third wave. Air Canada expects home journey will lead its restoration, as was the case within the U.S., given the energy in demand particularly for transcontinental flights regardless of lockdowns and restrictions. Peak summer time leisure journey in July and August, together with to Europe, is predicted to be pushed to September and October. And company journey, a key section for the airline, doubtless gained’t come again till after Labour Day, chief industrial officer Lucie Guillemette informed analysts. Air Canada mentioned its loss amounted to $3.90 per diluted share for the quarter that ended March 31 in contrast with a lack of $1 billion or $4.00 per diluted share a 12 months in the past when it had fewer shares excellent. Income within the quarter totalled $729 million, down from $3.7 billion within the first three months of 2020.
Enbridge Inc. — The CEO of Enbridge Inc. says “dangerous issues” will occur if Michigan Gov. Gretchen Whitmer succeeds in finishing up her order to close down its Line 5 pipeline by the Nice Lakes area subsequent week. However Al Monaco added he doesn’t assume that’s going to occur given court-ordered negotiations between the state and his firm, and Enbridge’s courtroom battle in opposition to the order to close down the pipeline that runs beneath the Straits of Mackinac by Might 12. The federal Liberal authorities is pushing again in opposition to the order and contemplating taking motion below the 1977 Transit Pipelines Treaty with america that enables for the uninterrupted move of vitality between the 2 international locations. Enbridge reported a first-quarter revenue of $1.9 billion in contrast with a lack of $1.4 billion in the identical quarter final 12 months when it took quite a few giant one-time prices. Working income totalled $12.2 billion, up from $12 billion within the first three months of 2020. The primary-quarter outcomes included a acquire of $300 million associated to the mark-to-market worth of derivatives used to handle overseas alternate threat.
This report by The Canadian Press was first printed Might 7, 2021.