TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (22,071.71, up or down 173.73):
Suncor Energy Inc. (TSX:SU). Energy. Up 10 cents, or 0.18 per cent, to $54.57 on 9.8 million shares.
Canadian Imperial Bank of Commerce. (TSX:CM). Financials. Up $4.53, or 7.01 per cent, to $69.19 on 7.6 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down one cent, or 0.02 per cent, to $48.92 on 7.3 million shares.
Enerplus Corp. (TSX:ERF). Energy. Down 29 cents, or 1.05 per cent, to $27.40 on 7.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down seven cents, or 0.20 per cent, to $35.08 on 6.5 million shares.
Royal Bank of Canada. (TSX:RY). Financials. Up $7.31, or 5.19 per cent, to $148.27 on 6.5 million shares.
Companies in the news:
Brookfield Asset Management (TSX:BAM). Financials. Up $1.55, or 2.95 per cent, to $54.13. Brookfield is in talks to acquire a majority stake in French renewable power developer Neoen, with plans to buy the remaining interest in the company, if it is successful in reaching a deal. The plan led by the Brookfield Global Transition Fund values Neoen, which has renewable power projects in operation and under construction around the world, at about $9 billion. The Brookfield Global Transition Fund is managed by Brookfield Asset Management.
Royal Bank of Canada (TSX:RY). Financials. Up $7.31, or 5.19 per cent, to $148.27. Royal Bank of Canada raised its dividend as it reported its second-quarter profit rose compared with a year ago, helped by record earnings in its capital markets business. The bank said Thursday it will now pay a quarterly dividend of $1.42 per share, an increase of four cents. It also said it plans to buy back up to 30 million of its shares. The moves came as RBC said it earned $3.95 billion or $2.74 per diluted share for the quarter ended April 30, up from $3.68 billion or $2.60 per diluted share a year earlier. During the quarter, RBC completed its acquisition of HSBC Bank Canada.
Canadian Imperial Bank of Commerce (TSX:CM). Financials. Up $4.53, or 7.01 per cent, to $69.19. CIBC's second-quarter results showed profits up from last year as the bank's share of bad loans benefited from efforts to cut exposure to the U.S. office segment. The bank reported Thursday it had a profit of $1.75 billion, or $1.79 per diluted share for the quarter ending April 30, up from $1.69 billion or $1.76 per share in the same quarter last year. Income climbed as revenue totalled $6.16 billion in the quarter, up from $5.70 billion a year ago. Profits were also helped as provisions for credit loss, which, while up from last year, dropped from last quarter, avoiding the steady climb seen at most other banks.
This report by The Canadian Press was first published May 30, 2024.
The Canadian Press
