Debt loads push Canadian firms to firesale asset sales
In a cash strapped market Toronto lenders and financiers pressure firms to divest. Companies such as Shell Canada pull non core units to fund oil and gas exploration while others like Dome Petroleum face collapse risk. Brokers warn many assets will fetch discount prices as mergers and private equity fill the gap.
MENTIONED IN THIS ARTICLE
James Walker
Financial Times
Toronto
Shell Canada Ltd
Agrichemicals
Dome Petroleum Ltd
Total Petroleum (North America) Ltd
Ottawa
Canada
Armitage
Robert Jennings
Carson Jennings and Associates
Calgary
Jennings
Falconbridge charts rebound as cuts brace for recovery
Falconbridge Ltd faces a mining slump but analyst Michael Reid backs it over Inco as a strong buy. New president William James and CEO transition under Harold Berry aim to steady the firm with cost cuts and a $171.4 million cash loan. The Sudbury shutdown and Onaping mine closure cut costs while diversification plans widen the focus beyond nickel.
MENTIONED IN THIS ARTICLE
John Lute
Financial Times
Toronto
Falconbridge Ltd
Canada
Sudbury
Falconbridge
Michael Reid
Greenshields Inc
Inco Ltd
William James
Noranda Mines Ltd
Dominican Republic
Superior Oil Co
Houston
James Krane
Krane
Harold Townsend
Pete” Berry
Berry
James
Inco’s
Gardiner Watson Ltd
Gordon Bub
Market Ticker Summary From Toronto and Vancouver Lists
Quoted prices in cents for numerous stocks and funds as of 12 15 p m EDT today, with bid ask ranges and net changes from prior close. Includes Abitibi Amcor Alcan Agnico Argus Bank of Montreal Canadian Imperial and many others across sectors and exchanges.
MENTIONED IN THIS ARTICLE
Aland
AMCA
Agnico
Algo
Algoma St Alum
Eagle Am
Leduc
Argus Argus
Argus C
Alamera BC
Bachelor
Bank BC
Bk BC
Bank Md
Bk Mt
Bank NS
Bankeno
Bankenow
Bathist P
Baton B
Bay Mills
TSE AverBell Canad
Brascan A
Brigit
Brinco
Ch'ge Abu Oil
Admir
Agio
Alex
Alaska
Alska
All Star
Alberta market tabulation and sector indexes update
Readable financial page shows Wednesday transactions with prices in cents and a composite index at 12 noon EDT 1390.2 down, metals down, oil and gas up, pipelines down, real estate down, industrials down, Dow Jones at 792.71 down. Canadian dollar 0.7759 US funds. Transactions listed including St, 500, 7Ff, and 2000 300.
MENTIONED IN THIS ARTICLE
Pemberton Securities Ltd
Medicine Hat
Dow Jones
U.S
Market quotes and abbreviations from Commodities desks
A list of price quotes in cents for CBT CME and WPG contracts with contract months shown and abbreviations explained. Data includes quoted figures such as 148.00 124.00 118.80 and others, with notes on decimal formatting and currency.
MENTIONED IN THIS ARTICLE
CBT
Chicago Board of Trade
CME
Chicago Mercantile Exchange
WPG
Winnipeg Commodity Exchange
Midland Doherty Limited
Also Mentioned on This Page
Murray Armitage
Crosbie Armitage and Co
Brunswick Corp
Ozite Canada Inc
Brunswick
Ozite
Colorfil Ltd
Colorfil
Richard Smith
Northern Telecom Ltd
Vancouver
P.m. Ch
Steele
Peter Tan Trust ‘Trust
Tung Curtis
Senna Ltd
WU Zid
Brent Brican Bridge
Caldiia Calif
Eagle Duncan East
Eleashd
el Coco
Eldido Elmont Ity
Bektimo Exclibr Benn
Hih
Dofasco
Cda
Amar
Ome Oy
Ren
Ean
IBM
Inter Pipe
Psco
Inverness
Ken
Wn Kerr
Anacon Labatt
Lacana Laidlaw Laidin
Lont
Shore Laurasi
Mork Saics
Av. Vior
Vay
Nova C
Aus
Ae Jing F
N.ping Oshawa Aé
Rolla. Roma
Iby Roya
130 &M
Ruy
St Fabien Scarboro
Eptre
Schadore Scotts F
Scurry Ro
Ionare
Iona
Eko
Ame
Wincoln
Spre
Strlight
Sun
Suntco
E Tex
Avd
Ferne Rayer
Alberta
Gulch Halla
Petro Mitar
Total Sa
Ul U9
Tudus
Ben
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