TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,577.04, up 31.10 points.)
Enbridge Inc. (TSX:ENB). Energy. Down $1.10, or 1.94 per cent, to $55.61 on 15.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down $1.70, or 7.59 per cent, to $20.70 on 13.5 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.85, or 4.48 per cent, to $39.46 on 9.1 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 77 cents, or 3.95 per cent, to $20.29 on 8.3 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 42 cents, or 6.95 per cent, to $5.62 on 7.9 million shares.
Royal Bank of Canada (TSX:RY). Financials. Up 17 cents, or 0.14 per cent, to $126.44 on 6.1 million shares.
Companies in the news:
Sun Life Financial Inc. (TSX:SLF). Up $1.33 or 2.25 per cent to $60.47. Sun Life Financial Inc. has reached a deal to sell a U.K.-based division of the company to Phoenix Group Holdings PLC for about $385 million as part of a shift to make the company more nimble. The insurer said Thursday it will sell SLF of Canada U.K. Ltd., or Sun Life U.K., a company that manages life insurance and pension policies but is closed to new sales. Sun Life said that as part of the deal, it will form a long-term partnership to become a strategic asset management partner to Phoenix Group, including the management of Sun Life U.K.'s $9-billion general account. The sale is consistent with the company's strategy of growing fee-based and capital-light businesses, said Sun Life chief executive Kevin Strain on an analyst call.
Lightspeed Commerce Inc. (TSX:LSPD). Down $3.73 or 11.86 per cent to $27.71. The CEO of software company Lightspeed Commerce Inc. says his business has benefited from a return to pre-pandemic activities and shopping habits following COVID-19 restrictions, but he's still watching for a potential downturn. Montreal-based Lightspeed, which largely caters to the hospitality and retail sector, has been under pressure since a report last year by U.S. short-seller Spruce Point Management was critical of the company and accused it of misleading investors about its growth opportunities. However, Lightspeed is optimistic, in part because it launched two new flagship products and acquired at least five companies to broaden its software offerings in the last two years. Lightspeed will push this narrative as it works to address a first-quarter net loss that nearly doubled from the same time last year. The company said its net loss for the three months ended June 30 amounted to US$100.8 million or 68 cents per share compared to a loss of US$49.3 million or 38 cents per share during last year's first quarter.
Canadian Natural Resources Ltd. (TSX:CNQ). Down $1.49 or 2.23 per cent to $65.41. The head of Canada's largest oil-and-gas producing company criticized the federal government's proposed emissions cap for the energy sector Thursday, arguing environmental goals must be balanced with economic and energy security concerns. Canadian Natural Resources Ltd. president Tim McKay made the comments during a conference call with analysts. While the purpose of the call was to discuss the company's second-quarter financial results, McKay took aim at Ottawa's proposed cap in his opening remarks. He also talked up the emissions reduction efforts that are already underway through Pathways Alliance, an industry group that includes CNRL and other major Canadian oilsands producers.
This report by The Canadian Press was first published Aug. 4, 2022.
The Canadian Press
