Most actively traded companies on the TSX

By The Canadian Press

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:

Toronto Stock Exchange (16,213.31, down 90.74 points).

Barrick Gold Corp. (TSX:ABX). Materials. Up 76 cents, or 3.15 per cent, to $24.88 on 5.7 million shares.

Encana Corp. (TSX:ECA). Energy. Down five cents, or 0.85 per cent, to $5.85 on 5.7 million shares.

Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.18 per cent, to $1.68 on 5 million shares.

OceanaGold Corp. (TSX:OGC). Materials. Down one cent, or 0.33 per cent, to $2.99 on 5 million shares.

Manulife Financial Corp. (TSX:MFC). Financials. Down 34 cents, or 1.53 per cent, to $21.84 on 4.7 million shares.

Enbridge Inc. (TSX:ENB). Energy. Down 57 cents, or 1.27 per cent, to $44.41 on 4 million shares

Companies in the news:

SNC-Lavalin Group Inc. (TSX:SNC). Down 24 cents to $16.90. SNC-Lavalin Group Inc.’s stock fell again after Standard & Poor’s downgraded its credit rating to junk status. Standard & Poor’s cut SNC-Lavalin’s rating to double-B-plus from triple-B-minus on Monday, which could make it costlier for the firm to borrow money. The bond-rating agency pointed to “significant losses” on fixed-price contracts and “uncertainty in the company’s ability to recover earnings and cash flow.” The downgrade comes with the company already in the crosshairs of a political controversy and on the brink of a criminal trial on corruption charges connected to business dealings in Libya.

Royal Bank of Canada (TSX:RY). Down $1.12 to $99.34. Trade uncertainty may weigh on the Canadian banks’ upcoming financial results, but strong employment numbers on both sides of the border and a continued boost from their international footprints will likely result in a “solid” quarter, analysts say. Several analysts estimate the country’s six biggest banks will see earnings-per-share growth in the quarter ended July 31 in the range of six to seven per cent year-over-year amid tariff talk, U.S.-China tensions and other headwinds. The Royal Bank of Canada reports first on Wednesday, followed by the Canadian Imperial Bank of Commerce on Thursday. The Bank of Montreal and Bank of Nova Scotia both report their latest earnings on Aug. 27, followed by National Bank of Canada on Aug. 28 and Toronto-Dominion Bank on Aug. 29.

Transat A.T. Inc. (TSX:TRZ). Down three cents to $16.51. Transat A.T. Inc. repeated its recommendation that shareholders support a takeover offer for the company by Air Canada after Pierre Karl Peladeau hinted he may make an offer. The travel company says it has never received an offer from Peladeau or any of his business associates to acquire Transat. Transat shareholders are set to vote on Air Canada’s offer of $18 per share on Friday. The company says there is currently no concrete alternative transaction on the table. On Monday, Peladeau, who said he owns about a 1.6 per cent stake in Air Transat’s parent company, said he plans to vote against the Air Canada bid because it is “contrary to the public interest.”

 

The Canadian Press

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