TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,188.43, up 90.91 points.)
Royal Bank of Canada (TSX:RY). Financials. Down $0.54, or 0.43 per cent, to $125.32 on 6.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 19 cents, or 0.39 per cent, to $48.80 on 5.0 million shares.
Suncor Energy (TSX:SU). Energy. Down 14 cents, or 0.53 per cent, to $26.14 on 4.7 million shares.
Bank of Montreal (TSX:BMO). Financials. Up 88 cents, or 0.71 per cent, to $124.47 on 4.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 5 cents, or 0.21 per cent, to $23.97 on 4.0 million shares.
MEG Energy Corp. (TSX:MEG). Energy. Up 51 cents, or 6.3 per cent, to $8.60 on 4.0 million shares.
Companies in the news:
MEG Energy Corp. (TSX:MEG) — Up $0.51 or 6.30 per cent to $8.60. MEG Energy boosted its full-year production guidance after reporting $68 million in net profits in the second quarter on a near doubling of revenues. The Calgary-based company earned 22 cents per diluted share, up from a loss of three cents per share of $9 million in the prior year. Revenues for the three months ended June 30 were a little more than $1 billion, up from $533 million in the second quarter of 2020. MEG was expected to earn 12 cents per share on $846.4 million of revenues, according to financial data firm Refinitiv. The company revised its 2021 average bitumen production to 91,000 to 93,000 barrels per day from 86,000 to 90,000 forecast last December. Quarterly production averaged 91,803 barrels per day.
Magna International Inc. (TSX:MG). Down $5.28 or 4.93 per cent to $101.73. Magna International Inc. is advancing its goal of becoming a global leader in advanced driver assistance technology by reaching an agreement to acquire Swedish automotive safety technology firm Veoneer for US$3.8 billion including debt. The Ontario-based auto parts manufacturer will pay US$31.25 per share in cash, a 57 per cent premium that reflects an enterprise value of US$3.3 billion. The company plans to operate Veoneer's Arriver sensor perception and drive policy software platform as an independent business unit and acquire its restraint control systems. Veoneer will be combined with Magna’s existing ADAS business and integrated into its electronics operating unit. The pro forma 2020 sales would be US$1.2 billion but Veoneer estimates the global market for the technology was about US$11 billion in 2020 and will reach US$29 billion by 2026.
Air Canada (TSX:AC). Air Canada is anticipating a recovery in demand in the coming months as travel restrictions are eased and leisure passengers look to get away after being grounded by COVID-19. Although overall bookings remain below pre-pandemic levels, customer interest began to increase in June with the elimination of quarantines for fully vaccinated returning Canadians and the removal of other travel restrictions. CEO Michael Rousseau said bookings are steadily increasing for domestic, transborder and Atlantic markets as well as to sun destinations for the coming winter. In some weeks of June future bookings were ahead of the same period in 2019.
This report by The Canadian Press was first published July 23, 2021.