TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,203.70, up 2.42 points.)
Toronto-Dominion Bank. (TSX:TD). Financials. Down 48 cents, or 0.57 per cent, to $83.12 on 16.2 million shares.
Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Up half a cent, or 1.32 per cent, to 38.5 cents on 12.9 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up two cents, or 0.03 per cent, to $58.87 on 12.2 million shares.
Air Canada. (TSX:AC). Industrials. Down 12 cents, or 0.44 per cent, to $26.88 on 10.3 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 3.23 per cent, to 90 cents on seven million shares.
Aphria Inc. (TSX:BNS). Health care. Up $1.08, or 6.18 per cent, to $18.55 on 5.8 million shares.
Companies in the news:
George Weston Ltd. (TSX: WN). Down 39 cents, or 0.35 per cent, to $112.21. George Weston Ltd. says W. Galen Weston has died at age 80. The Toronto-based company says Weston died peacefully at home Monday after a long illness. Weston previously held executive and senior roles at food, retail and real estate giants his family founded or led including Loblaw Companies Ltd., Choice Properties, Selfridges Group and Weston Foods. He retired as chairman of George Weston Ltd. in 2016 to make room for his son Galen G. Weston, a tradition set by his father, W. Garfield Weston, who also stepped down at the age of 75. Since his retirement, Weston remained a part of his family's philanthropic endeavours including the Weston Family Foundation and the Weston Brain Institute. Weston was married to wife and former Ontario lieutenant-governor Hilary for 55 years and together they raised Alannah Weston, who is chair of the Selfridges Group, and Galen Weston Jr., the chief executive at George Weston Ltd.
Air Canada (TSX:AC). Air Canada has revised its COVID-19 refund policy to cover eligible customers who bought non-refundable airline tickets or vacation packages between Feb. 1, 2020, and April 13, 2021, the company said Tuesday. Customers who have already accepted a travel voucher or Aeroplan points instead cash will also have the option to exchange these for a refund, it said. The refunds follow a deal between the airline and federal government which will provide a total of $5.9 billion in aid to Canada's largest airline, including up to $1.4 billion to support the new refunds. The airline said it has already provided $1.2 billion to customers with refundable tickets. The airline will accept online refund requests until June 12 at aircanada.com/refund. Air Canada has also revised booking policies for all future travel, starting Tuesday, to provide more certainty if a flight is cancelled or rescheduled by more than three hours. All customers will have the choice of receiving a refund, an Air Canada Travel Voucher or the equivalent value in Aeroplan Points with a 65 per cent bonus, the company said in a statement. Air Canada has committed to resume service at 13 regional airports as well as seven others through agreements with regional carriers. As part of the package, Air Canada has also agreed to cap executive compensation, maintain staffing levels and complete previously planned aircraft purchases.
Bank of Nova Scotia (TSX:BNS). Down 98 cents, or 1.25 per cent, to $77.51. The head of the Bank of Nova Scotia is urging Ottawa to adopt a series of policy changes. Scotiabank CEO Brian Porter said Tuesday that he wants to see a top-up to the annual Canada Child Benefit and child-care expense deductions, the introduction of a grant for businesses to make capital investments and the elimination of interprovincial trade barriers. Speaking at the bank's annual general meeting, which was held virtually for the second time because of the pandemic, he positioned his pitches as an opportunity to learn from the health crisis. Porter's ideas come ahead of the April 19 federal budget. He said they would help grow the economy, increase the number of working Canadians and make the country stronger and more prosperous. Porter called for the Canada Child Benefit to be topped up by $5,000 per child. In July, the maximum annual Canada Child Benefit reached up to $6,765 per child under age six and up to $5,708 for kids aged six to 17. Families already receiving the Canada Child Benefit also got a one-time $300 boost per child last year. Porter is also advocating for a significant increase to child-care expense deductions to allow parents to fully deduct the cost of preschool child care. Under the current rules, parents and guardians can claim up to $8,000 per child for kids under the age of seven and $5,000 per child for children aged seven to 16. While child-care costs vary across the country, Porter said increasing the amount to $20,000 per child per year should cover the cost of daycare in every Canadian city.
Fortis Inc. (TSX:FTS). Up 54 cents, or 0.99 per cent, to $55.28. The Canada Infrastructure Bank and ITC Investment Holdings have signed a deal to invest $1.7 billion in an underwater transmission line connecting Ontario to Pennsylvania under Lake Erie. Under terms of the agreement in principle, the bank will invest up to $655 million or 40 per cent of the project cost. ITC, a subsidiary of Fortis Inc., and private sector lenders will invest up to $1.05 billion. The Lake Erie Connector is a proposed 117-kilometre underwater transmission line connecting Ontario with the PJM Interconnection on the U.S. side of the lake. ITC acquired the project in August 2014 and has received all necessary regulatory and permitting approvals. The bank expects the deal to close later this year, pending final project transmission agreements, with construction to start soon after.
Magna International Inc. (TSX:MG). Up $4.93, or 4.39 per cent, to $117.32. Magna International is planning to expand its global manufacturing capacity to North America as it focuses on electric vehicle production. In an investor presentation, Magna executives said the Aurora, Ont.-based auto parts company plans to become an industry leader in North America while aiming for carbon neutrality by 2030. CEO Seetarama (Swamy) Kotagiri says the company will partner with more overseas startups, including the recently announced collaboration with Innoviz Technologies, in its move toward electric vehicles. The comments come a day after Israeli electric mobility startup REE announced its partnership with Magna to develop modular electric vehicles. Last year, the auto supplier signed a deal with LG Electronics to create a joint venture called LG and Magna e-Powertrain JV to build components for electric cars. The company says it expects its sales to grow to between US$43 billion and US$45.5 billion in 2023.
This report by The Canadian Press was first published April 13, 2021.
The Canadian Press