Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,877.42, up 71.67 points.)
Enbridge Inc. (TSX:ENB). Energy. Up $1.05, or 2.16 per cent, to $49.55 on 12.08 million shares.
Zenabis Global Inc. Rights (TSX:ZENA.RT). Health care. Up 0.5 of a cent, or 20 per cent, to $0.03 on 8.11 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 32 cents, or 6.79 per cent, to $5.03 on 7.03 million shares.
Encana Corp. (TSX:ECA). Energy. Up 24 cents, or 3.9 per cent, to $6.40 on 6.41 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up three cents, or 1.51 per cent, to $2.02 on 5.77 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down three cents, or 0.54 per cent, to $5.52 on 5.1 million shares
Companies in the news:
Magna International Inc. (TSX:MG) Up 11 cents, or about 0.15 per cent, to $74.74. Magna International Inc. has cut its outlook for the year on lost volume from the nearly six-week strike by GM workers in the United States. The Canadian auto-parts manufacturer, which reports in U.S. dollars, said Friday it now expects total sales this year of between $38.7 billion and $39.8 billion, down from between 38.9 billion and $41.1 billion. The strike by 49,000 United Auto Workers shut down production at more than 30 GM facilities in the U.S. and forced GM to cut back or suspend some operations in Canada and Mexico as well -- affecting suppliers like Magna.
Enbridge Inc. (TSX:ENB) Enbridge said Friday that an optimization program on its Mainline system, which accounts for about 70 per cent of Canadian oil exports into the United States, is expected to add 100,000 barrels per day of additional capacity by year-end. It also plans to bring on another 50,000 bpd of capacity in a smaller pipeline expansion early next year.
Canadian Imperial Bank of Commerce (TSX:CM). Unchanged at $114.98. CIBC has agreed to sell a large portion of its investment in CIBC FirstCaribbean to GNB Financial Group Ltd. for US$797 million. Upon closing of the transaction in 2020, GNB will own 66.7 per cent of FirstCaribbean's equity, while CIBC will retain 24.9 per cent. CIBC will receive about US$200 million in cash and provide secured financing for the rest.
The Second Cup Ltd. (TSX:SCU) Down four cents, or about 2.86 per cent, to $1.36. The Second Cup Ltd. intends to change its name to Aegis Brands Inc. as part of a plan to diversify beyond coffee shops. The Toronto-area company says the name change is subject to approvals from shareholders and the Toronto Stock Exchange, where its shares are listed. Aegis will own and operate the existing Second Cup Coffee Co. as one of a portfolio of brands and the company is seeking acquisitions in the food service, coffee and cannabis sectors.
This report by The Canadian Press was first published Nov. 8, 2019.