TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,532.93, down 93.71):
Suncor Energy Inc. (TSX:SU). Energy. Down six cents, or 0.15 per cent, to $41.20 on 10.8 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up 13 cents, or 0.28 per cent, to $47.39 on 8.8 million shares.
Royal Bank of Canada. (TSX:RY). Finance. Down $1.06, or 0.81 per cent, to $129.67 on 7.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 15 cents, or 0.60 per cent, to $25.23 on 7.6 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 18 cents, or 0.37 per cent, to $48.30 on 7.2 million shares.
Toronto-Dominion Bank. (TSX:TD). Finance. Down 24 cents, or 0.28 per cent, to $86.72 on 6.7 million shares.
Companies in the news:
Pipestone Energy Corp. (TSX:PIPE). Energy. Down 27 cents, or 9.93 per cent, to $2.45. Strathcona Resources Ltd. announced Tuesday it will go public through a deal to purchase oil and gas exploration company Pipestone Energy Corp. as part of a longer-term expansion push. Calgary-based oil and gas producer Strathcona said the deal will value the combined business at $8.6 billion, with the new company becoming the fifth largest oil producer in Canada. Strathcona positioned the all-share deal as a way to give Pipestone shareholders a meaningful ownership stake in a large, low-decline rate, oil-weighted producer. Pipestone shareholders will hold about 9.05 per cent of the pro forma equity in the amalgamated company on a fully diluted basis.
Molson Coors Canada Inc. (TSX:TPX.B). Down $4.96, or 5.31 per cent, to $88.43. Molson Coors Beverage Co. has bumped up its outlook for the year as it saw notable volume and net sales growth in the second quarter. The brewery and beverage company said it now expects to see an increase in its underlying income before taxes of 23 to 26 per cent compared with last year, while it earlier was expecting growth in the low single digits. The increase came as the company, which reports in U.S. dollars, reported a net income in the second quarter of US$342.4 million, or US$1.57 per diluted share, up from US$47.3 million or 22 cents US, a year earlier.
National Bank of Canada. (TSX:NA). Finance. Down nine cents, or 0.09 per cent, to $103.19. National Bank of Canada said it will acquire the Canadian branch of Silicon Valley Bank's commercial loan portfolio. The Montreal-based bank said the portfolio it will nab is made up of about $1 billion in loan commitments, of which $325 million are outstanding. Much of the portfolio is focused on the technology, life science and global fund banking sectors and will be integrated into National Bank's technology and innovation banking group.
This report by The Canadian Press was first published Aug. 1,2023.
The Canadian Press
