Most actively traded companies on the Toronto Stock Exchange

TORONTO – Some of the most active companies traded on the Toronto Stock Exchange on Monday:

Toronto Stock Exchange (20,188.43, up 90.91 points.)

Royal Bank of Canada (TSX:RY). Finance. Down $0.54, or 0.43 percent, to $125.32 on 6.8 million shares.

Enbridge Inc. (TSX:ENB). Energy. Up 19 cents, or 0.39 percent, to $48.80 on 5.0 million shares.

Suncor Energy (TSX:SU). Energy. Down 14 cents, or 0.53 percent, to $26.14 on 4.7 million shares.

Bank of Montreal (TSX:BMO). Finance. Up 88 cents, or 0.71 percent, to $124.47 on 4.1 million shares.

Manulife Financial Corp. (TSX:MFC). Finance. Down 5 cents, or 0.21 percent, to $23.97 on 4.0 million shares.

MEG Energy Corp. (TSX:MEG). Energy. Up 51 cents, or 6.3 percent, to $8.60 on 4.0 million shares.

Companies in the news:

MEG Energy Corp. (TSX:MEG) up $0.51 or 6.30 percent to $8.60. MEG Energy raised its full-year production forecast after net profit of $68 million in the second quarter on nearly doubling revenue. The Calgary-based company earned 22 cents per diluted share, up from a loss of three cents per share of $9 million the previous year. Revenue for the three months ended June 30 was just over $1 billion, up from $533 million in the second quarter of 2020. MEG is expected to earn 12 cents a share on $846.4 million in revenue, according to financial data company Refinitiv. The company revised its average bitumen production for 2021 from 91,000 to 93,000 barrels per day, from 86,000 to 90,000 forecast last December. Quarterly production averaged 91,803 barrels per day.

Magna International Inc. (TSX:MG). Down $5.28 or 4.93 percent to $101.73. Magna International Inc. furthers its goal of becoming a global leader in advanced driver assistance technology by reaching an agreement to acquire Swedish vehicle safety technology company Veoneer for $3.8 billion including debt. The Ontario-based auto parts maker will pay $31.25 per share in cash, a 57 percent premium that reflects an enterprise value of $3.3 billion. The company plans to operate the Veoneers Arriver sensor perception and policy software platform as an independent business unit and acquire its security control systems. Veoneer will be combined with Magna’s existing ADAS business and integrated into the electronic control unit. Pro forma revenue in 2020 would be $1.2 billion, but Veoneer estimates that the global market for the technology was approximately $11 billion in 2020 and will reach $29 billion by 2026.

Air Canada (TSX:AC). Air Canada anticipates a rebound in demand in the coming months as travel restrictions are eased and vacationers try to get away after being grounded by COVID-19. While total bookings remain below pre-pandemic levels, customer interest began to pick up in June with the lifting of quarantines for fully vaccinated returning Canadians and the lifting of other travel restrictions. CEO Michael Rousseau said bookings for the coming winter are steadily increasing for domestic, cross-border and Atlantic markets and for sunny destinations. In a few weeks of June, future bookings were ahead of the same period in 2019.

This report from The Canadian Press was first published on July 23, 2021.