TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,937.71, up 342.09 points.)
Toronto-Dominion Bank (TSX:TD). Financials. Up $2.32, or 2.9 per cent, to $81.98 on 8.8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 24 cents, or 1.1 per cent, to $22.62 on 8.7 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down one cent, or 0.4 per cent, to $2.28 on 6.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.28, or 3.2 per cent, to $41.02 on 6.7 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 11 cents, or 0.5 per cent, to $20.66 on 6.5 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 26 cents, or 4.1 per cent, to $6.56 on six million shares.
Companies in the news:
CAE Inc. (TSX:CAE). Up 96 cents or 2.9 per cent to $33.71. As temperatures notched record highs in Britain, CAE Inc. unveiled plans at a trade exhibition there to train future pilots in electric planes amid mounting concerns about global warming. The Montreal-based builder of flight and training simulators said Tuesday it aims to convert two-thirds of its fleet of 200 Piper training aircraft to battery-powered vehicles. It also intends to bring an electric variant of the plane to market and launch a curriculum for new pilots to train on the green aircraft. Hélène Gagnon, CAE’s head of sustainable development, said in a phone interview the company will be the first to operate test planes that will use an electric motor and battery system. Gagnon declined to pinpoint a timeline for conversion of the four-seat Piper Archer planes, noting that technological and regulatory details need to be worked out.
West Fraser Timber Co. Ltd. (TSX:WFG). Up $15.89 or 14.7 per cent to $123.83. West Fraser Timber Co. Ltd. says it has not received any takeover offer after a report that Kronospan, an existing shareholder, and CVC Capital Partners were interested in making a bid for the company. West Fraser says it previously met with Kronospan and the private equity firm, but it has not received a proposal and there are no ongoing discussions regarding the terms of any transaction. It says it is focused on “executing on its business strategy to create shareholder value.” A media report suggested that CVC Capital and wood panel manufacturer Kronospan had submitted a joint expression of interest in buying the company. Analyst Paul Quinn of RBC Dominion Securities says there could be “material hurdles” to clear before any transaction could occur. He also said any deal may have to be friendly because West Fraser filings say certain corporate transactions may require approvals from class B shares, which are at least 91 per cent held by the Ketcham family. Billionaire Jim Pattison owns at least nine per cent of common shares.
This report by The Canadian Press was first published July 19, 2022.