TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,775.83, down 103.96 points):
Manulife Financial Corp. (TSX:MFC). Finance. Up 20 cents, or 0.83 per cent, to $24.33 on 10.5 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 18 cents, or 0.39 per cent, to $46.42 on 7.0 million shares.
Toronto-Dominion Bank. (TSX:TD). Finance. Down $2.69, or 3.23 per cent, to $80.67 on 6.4 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 45 cents, or 1.76 per cent, to $25.10 on 5.4 million shares.
TC Energy Corp. (TSX:TRP). Down 33 cents, or 0.69 per cent, to $47.66 on 4.7 million shares.
BCE Inc. (TSX:BCE). Telecom. Up $1.34, or 2.44 per cent, to $56.19 on 4.6 million shares.
Companies in the news:
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 27 cents, or 2.44 per cent, to $10.78. Crescent Point Energy Corp. has signed a deal to sell its North Dakota assets to a private operator for about $675 million in cash. The Calgary-based company announced the sale Thursday, saying in a news release that the limited drilling inventory associated with the assets means oil production from the area is expected to decline over time. The company has decided instead to concentrate on Saskatchewan and Alberta, where it has been bulking up its strength through recent asset purchases.
TC Energy Corp. (TSX:TRP). Down 33 cents, or 0.69 per cent, to $47.66. TC Energy Corp. has applied for regulatory approval for a potential minority interest sale of its Nova Gas Transmission Ltd. (NGTL) system, one that could include possible participation from Indigenous groups. No transaction has been announced, but in its application dated Aug. 18, the Calgary-based pipeline company said it wants to complete a restructuring in order to facilitate potential future minority ownership of the system.
Toronto-Dominion Bank. (TSX:TD). Finance. Down $2.69, or 3.23 per cent, to $80.67. TD Bank Group announced it was significantly expanding a share buyback program as it reported its third-quarter profit fell compared with a year ago. The bank said Thursday its net income totalled $2.96 billion or $1.57 per diluted share, down from $3.21 billion or $1.75 per diluted share in the same quarter last year, as it saw a rise in provisions for credit losses as well as higher expenses in part related to its failed bid to buy U.S.-based First Horizon.
Royal Bank of Canada. (TSX:RY). Finance. Up $2.36, or 1.96 per cent, to $122.62. Royal Bank of Canada is ramping up job cuts as it works to reduce costs ahead of an expected economic slowdown. The bank, which reported a rise in third-quarter profits Thursday that beat analyst expectations, said it planned to cut one to two per cent of its full-time equivalent employees next quarter on top of the one per cent it trimmed in the last one.
This report by The Canadian Press was first published Aug. 24, 2023.
The Canadian Press