TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,554.01, up 58.27 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Up 36 cents, or 1.43 per cent, to $25.50 on 18.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 49 cents, or 0.98 per cent, to $50.33 on 17.1 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 17 cents, or 1.65 per cent, to $10.47 on 6.2 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.33 per cent, to $1.68 on 4.5 million shares.
New Gold Inc. (TSX:NGD). Materials. Down 18 cents or 9.94 per cent, to $1.63 on 4.2 million shares.
Royal Bank of Canada (TSX:RY). Financials. Up 60 cents or 0.46 per cent, to $130.96 on four million shares.
Companies in the news:
Linamar Corp. (TSX:LNR). Up 35 cents, or 0.48 per cent, to $73.91. Linamar Corp. says it swung to a profit in the second quarter as the diversified manufacturer saw key sectors recover from the impacts of COVID-19. The Guelph, Ont.-based company says it had net earnings of $108 million or $1.65 per diluted share for the quarter ending June 30, compared with a loss of $37.9 million or 58 cents per share last year. Adjusted net income was $106.9 million, or $1.63 per diluted share, compared with a loss of $22 million or 34 cents per share last year. Linamar, which manufactures equipment for the automotive, construction and agricultural sectors, says it had revenue of $1.57 billion, up from $923.6 million in the same quarter last year. Analysts had on average expected adjusted earnings of $93 million, or $1.42 per share, on revenue of $1.61 billion, according to financial data firm Refinitiv.
Metro Inc. (TSX:MRU). Down $1.36 or 2.12 per cent, to $62.93. Financial results from Canada's three largest grocers offered a clearer picture of how the COVID-19 crisis has shaped shopping habits — and how consumers respond when public health restrictions are eased. Metro Inc.'s third-quarter earnings, reported Wednesday, largely mirrored results posted earlier this summer by competitors Empire Co. Ltd. and Loblaw Companies Ltd. At the onset of the pandemic, all three saw sales soar as shoppers stockpiled everything prompting shortages of things like flour and toilet paper. Many Canadians also opted for conventional full-service grocery stores rather than discount supermarkets and bought more items per visit as part of a one-stop-shop effort to reduce their grocery trips. But the opposite trend is now emerging as the vaccine rollout continues and COVID-19 infections drop. Metro, Loblaw and Empire all noted an increase in traffic in their stores in recent quarters, but smaller basket sizes and more muted sales, an indication that people are shopping around more and potentially spending more at restaurants. They also noted a gradual return to discount grocery stores as an increasing number of shoppers sought out promotions over simply convenience.
This report by The Canadian Press was first published Aug 11, 2021.
The Canadian Press
