TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,774.08, down 153.61):
Toronto-Dominion Bank. (TSX:TD). Finance. Down $3.40, or 4.19 per cent, to $77.78 on 10.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 53 cents, or 1.35 per cent, to $38.79 on 6.7 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 86 cents, or 1.73 per cent, to $48.92 on 6.5 million shares.
Manulife Financial Corp. (TSX:MFC). Finance. Up 17 cents, or 0.68 per cent, to $25.19 on 5.2 million shares.
Canadian Imperial Bank of Commerce. (TSX:CM). Finance. Up $1.14, or 2.05 per cent, to $56.78 on 4.4 million shares.
Royal Bank of Canada. (TSX:RY). Finance. Down $2.27, or 1.83 per cent, to $121.48 on 4.3 million shares.
Companies in the news:
Canadian Imperial Bank of Commerce. (TSX:CM). Finance. Up $1.14, or 2.05 per cent, to $56.78; and Toronto-Dominion Bank. (TSX:TD). Finance. Down $3.40, or 4.19 per cent, to $77.78; and Royal Bank of Canada. (TSX:RY). Finance. Down $2.27, or 1.83 per cent, to $121.48. The effects of heightened inflation and central bank efforts to rein it in by slowing the economy are showing in the second-quarter results from Canada’s big banks. Four out of the Big Five banks have reported earnings that missed expectations as they set aside more money for bad loans and struggle to contain rising costs, and several see their revenue take a hit from slower loan growth. CIBC was the lone outlier as its results Thursday came in better than analysts had expected. Meanwhile, TD said Thursday its profits ticked lower while its provisions for credit losses went to $599 million from $27 million a year ago. RBC reported profits Thursday of $3.65 billion, down from $4.25 billion a year ago.
Quebecor Inc. (TSX:QBR.B). Telecom. Down 21 cents, or 0.64 per cent, to $32.49. Freedom Mobile will offer a $50 plan that includes unlimited calls and texts as well as 40 GB of data usable nationwide and in the U.S. following its acquisition by Quebecor Inc.’s Videotron. The $2.85 billion deal was prompted by Rogers Communications Inc.’s takeover of Shaw Communications Inc., which agreed last year to sell Freedom Mobile in an attempt to ease competition concerns as a requirement for the merger. As part of the conditions of federal approval laid out by Industry Minister François-Philippe Champagne in March, Videotron must offer plans that are at least 20 per cent lower than its competitors’ plans and spend $150 million over the next two years to upgrade Freedom Mobile’s network.
This report by The Canadian Press was first published May 25, 2023.