TORONTO — A few of the most energetic firms traded Monday on the Toronto Inventory Alternate:
Toronto Inventory Alternate (16,079.5, down 224.53 factors.)
Cenovus Power Inc. (TSX:CVE). Power. Down 41 cents, eight.four per cent, to $four.47 on 21 million shares.
Enbridge Inc. (TSX:ENB). Power. Down 37 cents, or zero.97 per cent, to $37.62 on 18.Three million shares.
Husky Power Inc. (TSX:HSE). Power. Up 38 cents, or 11.99 per cent, to $Three.55 on 12.four million shares.
Manulife Monetary Corp. (TSX:MFC). Financials. Down 49 cents, or 2.55 per cent, to $18.72 on 9.four million shares.
Royal Financial institution of Canada. (TSX:RY). Financials. Down $1.79, or 1.86 per cent, to $94.50 on 5.eight million shares.
Air Canada (TSX:AC). Industrials. Down $1.03, or 6.06 per cent, to $15.96 on 5.6 million shares.
Corporations within the information:
Sobeys Inc. (TSX:EMP.A) Down 51 cents or 1.four per cent to $37.06. Analysts stated Monday that Stellarton, N.S., primarily based grocer Sobeys Inc. will possible observe its Canadian rivals in elevating provider charges, a transfer they warn may result in much less competitors and, relatedly, larger meals prices and fewer manufacturers on retailer cabinets. Loblaw informed suppliers final week that the price of getting merchandise on cabinets would go up in January. Walmart Canada introduced a price hike in July that prompted United Grocers Inc., a nationwide shopping for group that represents Metro Inc., to inform suppliers it expects the identical price reductions as rivals. College of Guelph meals economist Michael von Massow stated all the massive grocery shops will possible observe go well with in an effort to remain aggressive.
Husky Power Inc. — The all-share deal by Cenovus Power Inc. to purchase Husky Power Inc. for about $Three.eight billion will possible spark extra mega-mergers amongst Canadian oil and gasoline majors, in response to veteran oilsands analyst Phil Skolnick of Eight Capital. A number of trade observers level to Calgary-based oilsands producer MEG Power Inc. because the main potential goal, noting Husky’s failed $Three.Three-billion hostile takeover try of its smaller rival two years in the past. In his report, Skolnick presents situations the place Canadian Pure Assets Ltd. (typically referred to by its inventory ticker, CNQ) or Imperial Oil Ltd. purchase MEG, whereas additionally outlining the numbers concerned if Canadian Pure mixed with Imperial or Suncor Power Inc., and if Suncor had been to merge with Imperial.
Bombardier Inc. (TSX:BBD.B). Up one cent or Three.1 per cent to 33 cents. Bombardier Inc. will obtain much less money than it initially had agreed to within the sale of its aerostructures enterprise to Spirit AeroSystems Holding Inc. The corporate stated Monday it is going to obtain US$275 million in money within the amended deal, down from the US$500 million in money that was first introduced final yr. Spirit may even assume liabilities, together with authorities refundable advances and pension obligations, valued at US$824 million, up from US$700 million beforehand introduced. The sale contains operations in Belfast, U.Ok., and Casablanca, Morocco, in addition to a upkeep, restore and overhaul facility in Dallas. Considerations about the way forward for the deal had been raised final month after Spirit stated some closing circumstances had been unmet, injecting a level of uncertainty into the deal. Bombardier stated Monday the closing circumstances have been met and the transaction is predicted to shut on Friday.
Brookfield Asset Administration (TSX:BAM.A). Down $1.49 or Three.Three per cent to $43.03. Blackstone Actual Property Revenue Belief Inc. says it has signed a deal to purchase Merely Self Storage from a Brookfield Asset Administration actual property fund for about US$1.2 billion. Merely Self Storage has a portfolio totalling about 750,000 sq. metres throughout the U.S. Blackstone says the deal will add to the belief’s portfolio of self-storage amenities and make it the third largest non-listed proprietor of storage within the U.S. Brookfield acquired Merely Self Storage in 2016. The deal is predicted to shut earlier than the top of the yr, topic to sure customary closing circumstances.
This report by The Canadian Press was first printed Oct. 26, 2020.