TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,855.70, up 17.68 points.)
Baytex Energy Corp. (TSX: BTE). Energy. Up 52 cents, or 8.9%, to $6.35 on 12.8 million shares.
Canadian Natural Resources Ltd. (TSX: CNQ). Up 74 cents, or 0.9%, to $83 on 9.1 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 14 cents, or 6.7%, to $2.23 on 8.8 million shares.
Royal Bank of Canada (TSX:RY). Financial. Up 46 cents, or 0.34%, to $136.86 on 8.6 million shares.
Cenovus Energy Inc. (TSX: CVE). Energy. Up 6 cents, or 0.27%, to $22.05 on 8.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Unchanged at $58.27 on 7.7 million shares.
Companies in the news:
Toronto-Dominion Bank (TSX: TD) Up 14 cents or 0.15% at $93.99 — The chief executive of the Toronto-Dominion Bank said on Thursday that the increase in the corporate tax rate targeting financial institutions announced in last week’s federal budget could have unintended consequences. At the bank’s annual shareholders’ meeting, CEO Bharat Masrani said the federal government chose to target the Canadian banking sector with this measure. The Liberals’ 2022 budget included a proposed 1.5% surtax on bank profits over $100 million, as well as a one-time 15% charge on revenues over $1 billion for the year tax bill 2021 – a decision that leaders of Canada’s major banks say could hurt Canada’s competitiveness on the world stage. Masrani also urged the Canadian government to reduce deficits accumulated during the pandemic and focus on growth amid soaring inflation and lingering supply chain issues.
GFL Environment Inc. (TSX: GFL). Down 10 cents or 0.24% at $41.43. GFL Environmental Inc. claims to have reached an agreement with the Competition Bureau, which challenged the purchase of Terrapure Environmental Ltd. by the company last year. Under the agreement, the company says it will sell four liquid waste treatment facilities and three tank farms in Western Canada. GFL says the sites were expected to generate total annual revenue of around $20 million this year. The Competition Bureau had said Terrapure was GFL’s closest competitor for industrial waste services and oil recycling services in western Canadian markets and that the acquisition was likely to significantly lessen competition. He had filed an application with the Competition Tribunal late last year for a court order requiring GFL to sell all assets necessary to correct the reduction in competition. GFL last year announced an agreement to buy the solid waste and environmental solutions business of Terrapure and its subsidiaries for approximately $927 million. The deal, which excluded Terrapure’s battery recycling business, was completed in August.
This report from The Canadian Press was first published on April 14, 2022.
The Canadian Press