TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,493.23, up 261.20 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down $1.41, or 3.4 per cent, to $40.10 on 27.4 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down 16 cents or 6.5 per cent, to $2.31 on 14.6 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 25 cents, or 3.9 per cent, to $6.10 on 12 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down $1.07, or five per cent, to $20.30 on 11.9 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down two cents, or 1.5 per cent, to $1.31 on 10.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 39 cents, or four per cent, to $9.30 on 10.6 million shares.
Companies in the news:
TC Energy Corp. (TSX:TRP). Down 68 cents to $71.35. Sixteen Indigenous communities along the Coastal GasLink pipeline route have signed option agreements for an equity stake in the project, a move that one Indigenous leader hopes will set a precedent for future energy infrastructure projects in Canada. In an interview Wednesday, Chief Corinna Leween of the Chaslatta Carrier Nation — whose traditional lands are located northwest of Prince George, B.C., along the pipeline's corridor — said the agreements are a "historic milestone" for Indigenous communities. The signing of the agreements was announced Wednesday by TC Energy, the Calgary-based company currently constructing the Coastal GasLink pipeline. In all, 16 communities — represented by two groups, the CGL First Nations Limited Partnership and the FN CGL Pipeline Limited Partnership — have signed on for the option of a 10 per cent equity stake in the project. Financial terms were not disclosed. The equity options are exercisable once the pipeline begins commercial service, with a target date of 2023. Tiffany Murray, director of Indigenous relations for Coastal GasLink, said the equity option was offered to all 20 First Nations along the pipeline route with which TC Energy currently has existing project agreements.
Canopy Growth Corp. (TSX:WEED). Up 48 cents or 5.9 per cent to $8.56. The Alcohol and Gaming Commission of Ontario says cannabis retailers in the province can offer delivery and curbside pickup services on a permanent basis. The move is meant to make the two sales avenues pot stores were first permitted to explore on a temporary basis during the COVID-19 pandemic permanent, starting March 15. It will also offer buyers more choice, convenience and access to the legal cannabis market. Bubba Nicholson, the vice-president of business development and ethos at Thrive Cannabis in Simcoe, Ont., applauded the move because permanent delivery and curbside could help pot stores, which saw lower traffic during the COVID-19 pandemic and found it harder to draw in new customers, rebound. However, the move has some limitations, including regulations preventing cannabis retailers from operating entirely or predominantly as delivery businesses. This means cannabis retailers will not be able to adopt the same model being used by some quick-service restaurants and other retailers, which have set up numerous "ghost kitchens" or fulfilment facilities that don't serve walk-in customers but act as pickup spots for couriers. Some like Canopy Growth Corp.'s Tokyo Smoke started allowing people to place orders in the UberEats app in November. Those orders are processed by the pot store's staff and picked up by customers at the shop.
This report by The Canadian Press was first published March 9, 2022.
The Canadian Press