TORONTO – Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,443.65 down 150.32 points):
Bombardier Inc. (TSX:BBD). Plane and train maker. Down two cents, or 0.41 per cent, at $4.86 on 17.8 million shares.
BCE Inc. (TSX:BCE). Media and telecommunications. Down 60 cents, or 1.30 per cent, at $45.57 on 11.12 million shares. The telecommunications sector is on the spotlight this week as Ottawa reiterated Tuesday that it would limit competition in the Canadian wireless market. On Monday, the Canadian Radio-television and Telecommunications Commission allowed customers to cancel phone contracts without penalty after two years.
Penn West Petroleum Ltd. (TSX:PWT). Oil and gas. Down 45 cents, or 4.13 per cent, at $10.45 on 10.62 million shares. Calgary-based Penn West will reduce staffing levels by 10 per cent, install a new president and chief executive officer and slash its quarterly dividend by half while it undergoes a strategic review.
Air Canada (TSX:AC.B). Airline. Up 17 cents, or 8.25 per cent, at $2.23 on 8.30 million shares.
Eastern Platinum Ltd. (TSX:ELR). Miner. Up half a cent, or 6.25 per cent, at 8.5 cents on 5.66 million shares.
Toronto Venture Exchange (974.44 down 11.46 points):
Americas Petrogas Inc. (TSXV:BOE). Oil and gas exploration. Down 16 cents, or 11.03 per cent, at $1.29 on 3.93 million shares.
Pinecrest Energy Inc. (TSXV:PRY). Oil and gas. Unchanged at 64 cents on 3.83 million shares.
Companies reporting major news:
Groupe TVA (TSX:TVA.B). Media. Unchanged at $9.50 on 700 shares. The television company will cut 90 jobs or 4.5 per cent of its workforce citing difficult advertising conditions for the media industry.
HudBay Minerals Inc. (TSX:HBM). Miner. Down three cents, or 0.36 per cent, at $8.31 on 776,129 shares. The miner was downgraded by Moody’s Investors Service to a corporate family rating of B3 from B2. The ratings agency says it believes HudBay will likely require additional capital to develop its various growth projects and will at least partially fund that requirement with debt.
Laurentian Bank (TSX:LB). Bank. Up 15 cents, or 0.34 per cent, at $44.20 on 65,929 shares. The Quebec-based bank boosted its quarterly dividend by a penny to 50 cents after reporting higher earnings and revenue for the second quarter. Laurentian said the acquisition of AGF Trust helped improve its sales.