Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 29, 2025, Winnipeg, Manitoba B6 ● WINNIPEGFREEPRESS.COM BUSINESS I STOCKS WEDNESDAY, JANUARY 29, 2025 Tentative agreement averts CN strike MONTREAL — Canadian National Railway Co. says it has reached a ten- tative agreement with the union repre- senting about 750 signals and com- munication employees across Canada. The railway had faced a potential strike Tuesday by the workers repre- sented by the International Brother- hood of Electric Workers. Details of the tentative four-year agreement, which still must be ratified, were not immediately available. Workers had voted 95 per cent in fa- vour of a strike if a deal could not be reached. The union had said it was pushing for better work-life balance and higher pay. The current collective agreement between the union and the railway ex- pired Dec. 31. — The Canadian Press Alberta pension manager fires 19 EDMONTON — Alberta’s public pen- sion manager has laid off 19 employees and cut their positions, including the role of running its diversity, equity and inclusion program. The Alberta Investment Manage- ment Corporation says the company remains committed to an equitable and inclusive workplace. A spokesperson declined to say what other specific jobs were cut but says the 19 were in non-investment roles. The company’s board of directors and chief executive officer were fired in November by Alberta Finance Min- ister Nate Horner, who appointed for- mer prime minister Stephen Harper as board chair. Horner said at the time AIMCo’s rising costs, including its number of employees, were unacceptable when compared with its annual investment performance. AIMCo has about 600 employees with offices in Canada, the United States, Europe and Singapore. — The Canadian Press Linamar signs deal with Ont., Ottawa GUELPH, Ont. — Linamar Corp. says it has signed deals with the federal and Ontario governments that will see them come together to invest a combined $1.1 billion in automotive technology. The Ontario government is providing a $100.3-million grant, while the feder- al government is making a contribution of up to $169.4 million through the Stra- tegic Innovation Fund. Linamar says the investments will be related to both ongoing product re- search and development as well as new manufacturing equipment. The company says the investment will protect nearly 10,000 existing jobs and create more than 2,300 new jobs in the Ontario auto manufacturing sector. Linamar executive chair Linda Hasenfratz says the participation of both levels of government is an indica- tion of their commitment to the Can- adian automotive manufacturing sector. The announcement comes as U.S. President Donald Trump talks about implementing punishing tariffs on U.S. imports of Canadian and Mexican goods. — The Canadian Press Mediobanca rejects takeover bid by rival Monte dei Paschi MILAN — Italian bank Mediobanca on Tuesday rejected a surprise takeover attempt by domestic rival Monte dei Paschi di Siena. Mediobanca said in a statement the offer “is devoid of industrial and finan- cial rationale.” Monte dei Paschi, Italy’s oldest bank, launched a 13.3 billion euro (US$13.9 billion) takeover bid last week for lar- ger Milan-based peer Mediobanca that aims to reshape the Italian banking sector. Monte dei Paschi said the tie-up would generate 700 million euros a year in pre-tax synergies and deliver signifi- cant profits. But Mediobanca said the offer com- promises its “identity and business pro- file” and it would destroy shareholder value at both banks. — The Associated Press Social media giant X taps Visa as first digital-wallet partner for ‘everything app’ E LON Musk’s X announced a part- nership with Visa on Tuesday that would allow users of the so- cial media platform to send money to one another, as the world’s richest man makes a long-sought foray into consum- er payments. X’s deal with Visa, the largest U.S. credit card network, was announced by CEO Linda Yaccarino and will be dubbed “X Money Account.” It’s ex- pected to launch later this year, she said. Tuesday’s product will link custom- ers’ checking accounts, through Visa debit cards, to a digital wallet on X, and allow users to send payments to one another in real time. It would probably compete head-to-head with Venmo and Zelle, two separate peer-to-peer money transfer networks owned respectively by PayPal and a consortium of large banks. Visa, in a brief statement on X, said it was excited to partner with Musk’s company. The payments feature is Musk’s latest push to involve X (formerly known as Twitter) in users’ daily lives. The bil- lionaire has transformed the site dra- matically since taking it over in 2022 by firing much of the trust and safety team and loosening rules on hate speech and fact-checking. As one of U.S. President Donald Trump’s closest advisers, Musk has increasingly used the platform as a political megaphone and has also used the site to bash mainstream media to his more than 214 million followers, frequently telling X users they “are the media now.” Payments on X have been rumoured since 2022, when Musk took over the platform with the goal of turning it into an “everything app.” In an all-hands meeting in 2023, Musk reportedly told employees users will be surprised at “just how powerful” the company’s financial features will be. “When I say payments, I actually mean someone’s entire financial life,” Musk said, according to a transcript of the meeting published by the Verge. “If it involves money, it’ll be on our platform. Money or securities or what- ever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.” Musk has a history of overpromising on the timelines for new features and products with his other companies. At Tesla, for example, the CEO has been promising a fully autonomous vehicle for years, though such a vehicle is not yet publicly available. In January 2024, X said on its offi- cial blog it will launch “peer-to-peer payments” and will provide users with “new opportunities for commerce.” In December, Yaccarino said in a post “X will connect you in ways never thought possible,” referencing X Money, along with X TV, the AI chatbot Grok “and more.” “Buckle up. Happy New Year,” Yac- carino wrote. X is licensed to transmit money in 40 states and D.C., according to its website. X reportedly withdrew its New York li- cence application in April after a local law firm, Walden Macht Haran & Wil- liams, sent a letter in 2023 to banking commissioners claiming X was “unfit” to receive licenses. The company does not have a licence in New York. — Washington Post ANDREW ACKERMAN AND TRISHA THADANI DAVID PAUL MORRIS / BLOOMBERG FILES A pedestrian walks past Visa Inc. headquarters in Foster City, Calif. The credit card company will assist in the launch of ‘X Money Account.’ Agnico Eagle Mines L 129.50 0.98 644 130.00 60.17 Alamos Gold Inc. 29.48 0.53 336 29.66 15.27 AltaGas Ltd. 33.65 -0.44 695 35.77 26.91 ARC Resources Ltd. 25.23 -0.23 1,403 28.15 19.58 AtkinsRéalis Group 76.52 1.46 585 83.94 42.60 Bank of Montreal 144.60 -0.30 4,374 147.54 109.02 Bank of Nova Scotia 75.10 0.19 3,791 80.14 60.68 Barrick Gold Corpora 22.98 -0.11 1,768 29.50 18.65 BCE Inc. 34.41 -0.15 3,730 55.18 31.43 BMO S&P 500 Index ET 95.48 0.96 253 96.12 71.15 BMO S&P/TSX Capped C 34.03 0.18 67 34.67 27.43 Brookfield Infrastru 46.99 -0.14 501 50.46 34.36 Brookfield Renewable 29.84 -0.62 894 40.84 27.55 CAE Inc. 35.00 0.08 571 36.68 22.28 Cameco Corporation 69.97 1.71 1,648 88.18 48.71 Canadian Imperial Ba 92.90 2.41 2,739 95.50 59.53 Canadian National Ra 151.39 -1.99 868 181.34 143.18 Canadian Natural Res 43.78 -0.75 6,388 56.50 40.02 Canadian Pacific Kan 114.02 -1.93 1,315 123.37 101.76 Canadian Tire Corpor 234.44 0.00 0 275.36 192.10 Canadian Tire Corpor 167.41 -1.55 189 169.27 126.25 Canadian Utilities L 33.78 -0.31 555 37.10 29.15 CCL Industries Inc. 73.34 -1.22 373 84.70 55.34 CCL Industries Inc. 73.28 -2.01 0 83.99 57.38 Cenovus Energy Inc. 21.00 -0.20 4,519 29.96 20.42 CGI Inc. Class A Sub 164.77 2.12 456 165.18 132.06 Colliers Internation 207.02 0.03 38 218.47 138.13 Constellation Softwa 4716.82 122.44 41 4879.19 3535.00 Descartes Systems Gr 169.41 1.92 204 174.24 113.65 Dollarama Inc. 141.10 -0.05 569 152.97 97.80 Element Fleet Manage 29.06 -0.10 346 30.49 21.20 Emera Incorporated 55.00 -0.41 2,096 56.20 44.13 Empire Company Limit 42.79 -0.27 374 46.77 31.45 Enbridge Inc. 64.05 -0.20 5,625 65.62 45.05 Fairfax Financial Ho 1976.47 -21.89 32 2071.49 1213.01 Fairfax Financial Ho 1371.18 0.00 0 1397.29 893.44 First Quantum Minera 17.60 -0.50 1,623 21.45 10.91 FirstService Corpora 267.43 0.23 57 278.19 193.77 Fortis Inc. 61.48 -0.84 1,663 63.75 51.02 Franco-Nevada Corpor 188.14 2.39 192 191.17 140.67 Galaxy Digital Holdi 27.87 0.51 1,465 34.98 9.14 George Weston Limite 221.54 -2.29 124 239.79 166.78 Gildan Activewear In 74.54 1.00 347 75.06 44.07 Great-West Lifeco In 46.78 0.03 972 50.99 38.44 Hydro One Limited 44.95 -0.15 662 48.05 37.27 IGM Financial Inc. 46.20 0.30 251 47.96 32.95 Imperial Oil Limited 101.29 0.75 448 108.89 75.53 Intact Financial Cor 255.08 -1.24 273 275.84 206.57 iShares Core MSCI EA 39.54 -0.01 71 39.56 34.84 iShares Core S&P 500 62.84 0.52 237 63.70 50.73 iShares Core S&P/TSX 40.58 0.22 114 41.31 32.65 iShares S&P/TSX 60 I 38.85 0.22 3,086 39.06 31.33 Ivanhoe Mines Ltd. 15.48 -0.65 2,427 21.32 13.79 Keyera Corp. 41.21 -0.51 660 47.90 31.16 Kinross Gold Corpora 15.65 0.36 2,739 15.74 6.46 Loblaw Companies Lim 184.49 0.11 276 196.49 132.55 Lundin Gold Inc. 34.66 0.00 154 36.16 14.23 Lundin Mining Corpor 11.70 -0.32 3,402 17.97 10.56 Magna International 59.16 -0.49 1,102 79.98 51.79 Manulife Financial C 43.46 -0.15 5,240 46.42 28.95 Metro Inc. 88.56 -2.99 696 94.86 68.12 Molson Coors Canada 80.22 -0.88 0 93.06 65.04 Molson Coors Canada 86.11 8.62 0 97.01 63.46 National Bank of Can 129.46 -0.63 1,144 141.15 100.47 Newmont Corporation 59.53 -0.24 115 81.16 39.96 ONEX Corporation Sub 112.78 0.63 47 118.91 85.36 Open Text Corporatio 42.43 1.21 859 60.00 37.92 Ovintiv Inc. 63.12 0.47 115 76.63 49.74 Pan American Silver 31.52 0.23 490 36.00 16.50 Pembina Pipeline Cor 52.42 -0.36 1,319 60.72 44.56 Power Corporation of 43.63 0.13 1,407 47.89 35.83 RB Global Inc. 130.14 -1.09 152 139.48 83.48 Restaurant Brands In 89.84 0.17 321 112.12 86.06 Restaurant Brands In 90.00 0.00 0 109.74 87.11 Rogers Communication 45.85 -0.39 1 64.28 44.00 Rogers Communication 41.87 0.12 1,709 64.55 39.65 Royal Bank of Canada 177.03 0.84 8,046 180.45 127.60 Saputo Inc. 23.65 -0.08 767 32.15 22.59 Shopify Inc. Class A 169.20 14.85 2,338 171.84 72.36 Sprott Physical Gold 30.75 0.32 55 30.86 20.78 Sprott Physical Gold 21.37 0.23 2 22.68 15.36 Stantec Inc. 113.12 -0.24 184 123.92 103.48 Sun Life Financial I 84.20 -0.41 1,061 88.54 64.38 Suncor Energy Inc. 55.07 -0.66 3,195 58.58 42.43 TC Energy Corporatio 65.27 -0.42 3,344 70.32 48.12 Teck Resources Limit 58.82 -2.16 963 74.37 49.45 Teck Resources Limit 58.75 -2.18 1 74.15 49.62 TELUS Corporation 21.14 0.20 3,680 24.62 19.10 TFI International In 198.68 -2.78 87 220.93 173.25 Thomson Reuters Corp 239.17 2.85 247 243.42 199.00 TMX Group Limited 45.54 -0.07 354 46.31 33.19 Toromont Industries 120.83 -0.64 145 135.53 109.83 Toronto-Dominion Ban 82.54 -0.09 4,928 87.99 73.22 Tourmaline Oil Corp. 66.61 -0.59 1,516 70.65 53.45 Vanguard S&P 500 Ind 154.94 1.63 279 155.96 115.49 Vanguard U.S. Total 117.25 1.34 43 117.93 87.53 Waste Connections In 263.37 2.33 297 273.51 206.91 West Fraser Timber C 126.13 -4.43 161 141.27 100.84 Wheaton Precious Met 86.93 1.83 670 94.84 52.15 WSP Global Inc. 254.07 -0.27 165 262.00 195.14 VOLUME 52-WK 52-WK STOCK CLOSE CHG (000S) HIGH LOW (by market capitalization) TSX Top 100 MARK E T WAT CH Daily Mutual Movers Biggest gainers and losers base on percentage change in daily net asset value per share. Data supplied by Fundata. All Funds COMPANY CLOSE CHG Dyn Pwr Am Growth Fd A 26.33 4.82 Dyn Pwr Gbl Grwth Cl A 22.78 4.18 Maple Leaf Resource Cl A 1.25 3.89 TD Sci & Tech Fd Inv 156.70 3.79 BMO Prvt US Grw Equ Pf 40.97 3.56 IG Mac Gb Sci & Tec Fd C 49.19 3.43 BMO ARK Nxt Gen Int FdA 24.27 3.28 Dyn Pwr Gbl Bal Cl A 22.61 2.97 BMO Glo Innov FdA 17.45 2.88 Franklin Innovation Fd A 13.30 2.84 Fid USGrwOppInvTr O 23.68 2.81 Fid US Grw Opp Cl A 23.00 2.81 Inv Amer Fran Fd A 28.30 2.78 Canadian Equity COMPANY CLOSE CHG BMO SIAFocCdnEquFd Adv 14.36 1.34 Fid CdnFundamentalEqM-A O 17.16 1.17 CIBC Sust Cdn Equ A 11.85 0.92 BMO Sust Opp Cdn Equ A 15.24 0.85 Ren Cdn All-Cap Equ Fd A 23.41 0.83 SunL MFS Cdn Equ Fd D 86.56 0.74 InvS&P/TSXCompESGIdxETFA 13.40 0.74 CL Cdn FdmntlEquA 15.35 0.72 Ren Cdn Growth Fd A 59.94 0.69 PH&N Canadian Growth Fd D 58.20 0.67 C Cdn Equ PP Prem 14.59 0.67 Caldw Cdn Val Momntm Fd A 22.86 0.65 IAC Inh Cdn Equ SRI Cl A 20.99 0.64 Canadian Fixed Income COMPANY CLOSE CHG CIBC 30 Inv Grd BdFd A 10.50 0.08 CIBC 29 Inv Grd BdFd A 10.43 0.06 RBCI Cdn S/M Bd Fd F 10.04 0.05 Scot WthS-MGovtBondPool I 9.88 0.04 RBC Cdn Bond Idx ETF Fd 10.46 0.03 Inv ESG Can Co + Bd ETF A 8.47 0.02 CIBC Cons Fix Inc Pool A 9.48 0.02 RBC Cdn Govt Bond Idx DZ 10.93 0.02 RBC Mthly Inc Bond Fd A 9.07 0.02 SunL Core Advtg Cred PP A 8.64 0.01 ATBIS FixIncPool -F1 10.12 0.01 BDQ Bond Fund 10.53 0.01 Sym Fixed Inc Pf A 9.53 0.01 Global Equity COMPANY CLOSE CHG Canadian Dollar 44,850.35 19,733.59 DOW NASDAQ S&P 500 S&P/TSX +136.77 +391.75 +55.42 +130.30 25,419.456,067.70 -0.13 +29.10+0.60 OIL GAS GOLD SILVER US$73.77 US$3.12 US$2,767.50 US$30.88 +0.47 DOLLAR 69.47¢ -0.07 24,900 25,400 24,400 25,900 23,900 DAILY CLOSE, PAST 30 DAYS I December January Manitoba Stocks Ag Growth International Inc. 38 -0.85 95,059 Artis Real Estate Investment Trust 7.5 0.11 252,993 BCE Inc. 34.41 -0.15 3,729,547 Bird River Resources Inc 0.04 0 0 Boyd Group Services Inc. 236.89 -2.36 34,940 Buhler Industries Inc. 3.45 0.06 200 Exchange Income Corp. 56.17 -0.4 90,874 FP Newspapers Inc. 0.48 0 0 Gossan Resources Ltd. 0.02 0 0 Great-West Lifeco Inc. 46.78 0.03 972,436 Hudbay Minerals Inc. 11.53 -0.33 1,316,870 IGM Financial Inc. 46.2 0.3 250,784 Kane Biotech Inc. 0.11 0.01 125,000 Medicure Inc. 0.82 0 0 NFI Group Inc. 12.07 -0.98 504,084 North West Co. Inc. (The) 47.52 0.3 82,450 Pollard Banknote Ltd. 29.39 0.56 8,261 Winpak Ltd. 44.45 -0.19 54,966 Marwest Apartment REIT 0.68 0 0 COMPANY CLSE CHG VOL COMPANY CLSE CHG VOL Futures Trading — Grain quotes CANOLA COMPANY OPEN HIGH LOW CLOSE YESTERDAY Mar '25 631.00 640.00 628.60 639.70 630.70 May 640.70 649.10 638.10 648.80 639.80 Jul 646.60 654.30 644.20 653.60 645.80 Nov 632.70 639.90 631.10 638.80 632.80 Jan '26 640.80 644.40 640.80 643.80 638.10 Mar 644.80 644.80 644.50 644.50 638.80 May - 644.00 - 644.00 638.50 Jul - 641.40 - 641.40 635.80 Nov - 643.60 - 643.60 638.00 Jan '27 - 641.40 - 641.40 635.80 Mar - 641.40 - 641.40 635.80 SOURCES: THE BANK OF CANADA, FUNDATA, ICE FUTURES CANADA, CME GROUP S&P/TSX Composite Index Foreign Exchange Rates These are indicative wholesale rates for foreign currency provided by the Bank of Canada on Tuesday. Quotations in Canadian funds. Australian dollar 0.8994 Brazilian real 0.2450 Chinese renminbi 0.1985 European euro 1.5013 Hong Kong dollar 0.1848 Indian rupee 0.01663 Indonesian rupiah 0.000089 Japanese yen 0.009250 Mexican peso 0.06995 New Zealand dollar 0.8149 Norwegian krone 0.1275 Peruvian new sol 0.3847 Russian ruble 0.01463 Saudi riyal 0.3838 Singapore dollar 1.0649 South African rand 0.07701 South Korean won 0.000995 Swedish krona 0.1308 Swiss franc 1.5909 Taiwanese dollar 0.04376 Turkish lira 0.04030 UK pound sterling 1.7897 US dollar 1.4394 A U.S. dollar cost $1.4394 based on daily average Dyn Pwr Gbl Grwth Cl A 22.78 4.18 BMO ARK Nxt Gen Int FdA 24.27 3.28 BMO Glo Innov FdA 17.45 2.88 Franklin Innovation Fd A 13.30 2.84 CIBC Gbl Tech Fd A 81.78 2.76 Fid Glo Innovat Inv Tr O 29.91 2.64 Fid Gbl Innova Cl A 41.22 2.64 Fid Gbl Innov CN Cl A 33.47 2.47 Fid Founders Inv Tr O 26.80 2.36 Fid Founders Class A 27.44 2.36 TD Gbl Ent & Com Fd Inv 191.66 2.20 BMO ARK Innova FdA 17.46 2.20 Fid Founders CN Cl A 23.12 2.20 These companies will have headquarters or major operations in Manitoba. Closing values are as of the end of trading. Provided by Wellington-Altus Private Wealth. ;