TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,501.61, up 133.58 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 30 cents, or 0.68 per cent, to $43.65 on 8.43 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up one cent, or 1.52 per cent, to 67 cents on 7.998 million shares.
Zenabis Global Inc. (TSX:ZENA). Healthcare. Up one cent, or 9.09 per cent, to 12 cents on 7.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 62 cents, or 2.89 per cent, to $22.07 on 7.5 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up 22 cents, or 1.71 per cent, to $13.10 on 7.09 million shares.
Manulife Financial Corp (TSX:MFC). Financials. Up 82 cents, or 4.55 per cent, to $18.83 on 7.05 million shares.
Companies in the news:
Great-West Lifeco Inc. (TSX:GWO). Up $1.06 or 4.43 per cent to $24.96. Great-West Lifeco Inc. says digital technology investments and markets rebounding from COVID-19 helped almost double its net earnings in its latest quarter. The Winnipeg-based insurer says its net earnings attributable to common shareholders reached $863 million or 93 cents per share in its second quarter, compared to $459 million or 49 cents per share for the same quarter last year. Base earnings for the quarter ended June 30 amounted to $706 million or 76 cents per share, up from $627 million or 67 cents per share a year ago. The company shared its results just after it announced it is selling its Canadian subsidiary GLC Asset Management Group Ltd. to Mackenzie Financial Corp. for $175 million in cash. (Mackenzie parent IGM Financial Inc. and Great-West are both majority owned by Power Corp. of Canada.)
Canadian National Railway Co. (TSX:CNR). Up 91 cents or 0.7 per cent to $130.73; Canadian Pacific Railway Ltd. (TSX:CP). Up $1.90 or 0.52 per cent to $363.51. Canada's two major railways shipped record amounts of grain over the past crop year despite a gauntlet of obstacles. Canadian National Railway Co. hauled more than 30 million tonnes of grain in 2019-20, a seven per cent increase from the previous year. Canadian Pacific Railway Ltd. moved 10 per cent more grain at 29.5 million tonnes. The railroads attribute the achievement to investments in their network that included high-efficiency hopper cars and twinning sections of the main line. Other factors include a bounty of grain held over from last year following a late harvest as well as insatiable global demand for bread and pasta amid the COVID-19 pandemic, which has prompted rival wheat-producing countries to curb exports in order to build up domestic stores.
Brookfield Infrastructure Partners L.P. (TSX:BIP.UN). Up 79 cents or 1.42 per cent at $56.62. Brookfield Infrastructure lost money to Brazilian exchange rates during the most recent quarter, but executives expressed optimism in 5G tower expansions, government investments in infrastructure, and previous experience seeing projects through extreme weather and other recession events. The biggest drag on the business during the quarter was a 27 per cent depreciation of the Brazilian real, dinging funds from operations by $30 million, the company said. That was a bigger impact than delays caused by the economic shutdown, which the company said reduced funds from operations by $27 million but was "not a permanent loss."
This report by The Canadian Press was first published Aug. 5, 2020.
The Canadian Press