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Top News Today/Canada: Cenovus Agrees to C$5.7 Billion Acquisition of Athabasca Oil

HEADLINES Cenovus Expands Oil Sands Footprint With C$5.7 Billion Acquisition of Athabasca Oil Cenovus Energy has agreed to acquire Athabasca Oil in a cash-and-stock deal valued at C$5.7 billion, consolidating its position in Canada's resource-rich oil sands region. Under the terms of the agreement, Athabasca shareholders will have the option to receive C$12.00 in cash, 0.264 of a Cenovus common share, or a combination of both for each share held, capping total consideration at up to 75% cash and 35% equity. The transaction adds about 45,000 barrels of oil equivalent per day in immediate production near Cenovus's existing Christina Lake and Foster Creek operations in Alberta, while establishing a path to ramp total thermal output to 115,000 barrels per day by 2032. Cenovus shares ended Monday's session down 3% at C$44.86. Athabasca shares surged 13.5% to C$12.01. Cenovus is Paying a Scarcity Premium for Acquiring Athabasca Oil Cenovus Consolidates Alberta Operations as Global Energy Supply Takes Center Stage Curaleaf Aims to Win Over Big Investors with Sweetened $324.2 Million Offer for Aurora Cannabis Curaleaf Holding's sweetened offer for Aurora Cannabis is aimed at winning over institutional investors and forcing the target company into negotiations. Curaleaf Chairman and Chief Executive Boris Jordan said the raised offer, made Monday, was also designed to preempt competing bids from being entertained, while aligning with a wave of institutional investors who he said are steadily accumulating shares of Aurora since Curaleaf first made its offer in August. The new offer, for $5 a share, values Aurora at $324.2 million, and ups its earlier offer by about 25%. Even without access to Aurora's books, Jordan said the Curaleaf offer represents a bid to flush out rival suitors and force management to the table. Shares of Aurora jumped 14.2% to C$6.37. Services PMI Remains in Contraction Territory Despite Rise to 46.8 in September Activity in Canada's services industry continued to weaken last month despite some signs o

Sector Update: Energy Stocks Higher Late Afternoon

03:55 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%. The Philadelphia Oil Service Sector Index was climbing 3.6%, and the Dow Jones US Utilities Index increased 0.6%. In geopolitical news, Saudi Arabia-backed Yemeni government forces advanced on Monday to retake the coast around the Bab el-Mandeb Strait, a chokepoint similar to the Strait of Hormuz, pushing the Iran-backed Houthis out of most of the areas they had seized in September, Reuters reported. Meanwhile, Iran's Interior Minister Eskandar Momeni travelled to Doha at the invitation of his Qatari counterpart, Al Jazeera reported. Front-month West Texas Intermediate crude oil fell 2.2% to $89.07 a barrel, and the global benchmark Brent crude contract shed 2.1% to $100.07 a barrel. Henry Hub natural gas futures rose 0.9% to $3.06 per 1 million BTU. In corporate news, Cenovus Energy (CVE) has agreed to buy fellow Canadian energy company Athabasca Oil in a cash-and-stock deal with an implied enterprise value of roughly 5.7 billion Canadian dollars ($4 billion), as it aims to expand its core oil sands business. Cenovus shares were down 2.9%. Chevron (CVX) said Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Shares eased 0.3%. Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion Canadian dollars ($841.3 million) in upfront cash, plus up to CA$350 million in contingent payments, Suncor said Sunday. Suncor shares were down 1.1%. BP (BP) CEO Meg O'Neill said Monday that the company has adjusted its refineries to maximize diesel production amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. BP

Sector Update: Energy Stocks Higher Monday Afternoon

01:57 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced Monday afternoon, with the NYSE Energy Sector Index rising 1.2% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.3%. The Philadelphia Oil Service Sector Index was climbing up 3.9%, and the Dow Jones US Utilities Index increased 0.8%. In geopolitical news, Saudi Arabia-backed Yemeni government forces advanced on Monday to retake the coast around the Bab el-Mandeb Strait, a chokepoint similar to the Strait of Hormuz, pushing the Iran-backed Houthis out of most of the areas they had seized in September, Reuters reported. Meanwhile, Iran's Interior Minister Eskandar Momeni travelled to Doha at the invitation of his Qatari counterpart, Al Jazeera reported. Front-month West Texas Intermediate crude oil fell 1.1% to $90.12 a barrel, and the global benchmark Brent crude contract shed 1.3% to $100.92 a barrel. Henry Hub natural gas futures rose 0.8% to $3.06 per 1 million BTU. In sector news, President Donald Trump is planning to ease limits on the use of dyed red diesel, a tax-exempt variety of the fuel, Bloomberg reported Monday, citing people familiar with the matter. The Trump administration is expected to unveil the plan on Monday, the report said. In corporate news, Cenovus Energy (CVE) has agreed to buy fellow Canadian energy company Athabasca Oil in a cash-and-stock deal with an implied enterprise value of roughly 5.7 billion Canadian dollars ($4 billion), as it aims to expand its core oil sands business. Cenovus shares were down 2.7%. Chevron (CVX) said Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Shares eased 0.3%. Vistra (VST) may receive a $4 billion loan package from the Trump administration to upgrade three of its nuclear plants, Bloomberg reported Friday. Vistra shares rose 3.8%. Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion C

CANADA STOCKS-Energy stocks weigh on TSX as oil prices ease

By Avinash P Oct 5 (Reuters) - Canada's resource-heavy main stock index fell on Monday as lower oil prices weighed on energy stocks, though gains in technology shares limited losses, while investors parsed economic data and reassessed interest rate expectations. The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was down 0.2% at 35,441.80 points by 10:10 am ET, after rising nearly 1% on Friday. Lower oil prices weighed on the energy sector .SPTTEN, which was down 0.9% on Monday, leading sector-wise losses The mining linked-materials sector .GSPTTMT fell 0.8%, while the information technology index .SPTTTK gained 1.9% Investors recalculated their monetary policy expectations after soft US jobs data last week eased fears of an imminent Fed rate increase. Traders are currently pricing in a roughly 20% chance of a rate hike at the U.S. central bank's meeting later this month, according to CME's FedWatch tool. While odds of an October rate hike by the Bank of Canada have receded, investors still expect the central bank to raise lending rates at least once before the end of 2026, according to LSEG-compiled data "The question is whether it is simply a 25-basis-point move or the beginning of a broader rate-hike cycle... that is what is causing some angst and why we have seen a little volatility in the Canadian market lately," said Shiraz Ahmed, founder and CEO of Sartorial Wealth Among individual movers, Canada's Suncor Energy SU.TO fell 1.2% after it agreed to sell its interests in three offshore oil assets to Ithaca Energy ITH.L for C$1.2 billion ($841.69 million) Cenovus Energy CVE.TO fell 4.1% after saying it would acquire Athabasca Oil ATH.TO in a cash-and-stock transaction valued at C$5.7 billion ($4.00 billion). Athabasca Oil jumped more than 15% On the data front, Canada's services economy contracted for a fourth straight month in September amid economic uncertainty, S&P Global's Canada services PMI data showed. (Reporting by Avinash P in Bengaluru; Editing by Tasim Zahid) ((Avinash.P@thomsonreuters.com

UK's FTSE 100 steadies after worst week since April as miners gain

For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Oct 5 (Reuters) - The UK's FTSE 100 rose on Monday, steadying after its steepest drop since April last week, as mining shares led gains and oil prices stayed in check. The blue-chip FTSE 100 index .FTSE rose 0.19% to 10,481.20 points at 1018 GMT. The midcap FTSE 250 .FTMC dipped 0.32% to 24,114.77 points. Precious metal miners .FTNMX551030 rose 0.55% as prices of spot gold XAU= and silver XAG= jumped 0.35% and 2.06%, respectively.GOL/ Brent crude futures LCOc1 dipped 0.19% to $102.04 a barrel in choppy trading, after exports from the Middle East increased and the Group of Seven nations pledged to boost supplies.O/R Still, the conflict between Yemen's internationally recognised government and Iran-backed Houthis kept investors on edge. A survey on Monday showed British services firms reported stronger cost pressures last month as fuel prices surged due to the Middle East conflict. Fuel prices have been under scrutiny owing to their impact on inflation expectations and the Bank of England's interest rate trajectory. "Energy prices have risen too sharply, and a drop seems too distant a prospect for the MPC (Monetary Policy Committee) to sit on its hands and hope second-round effects fail to materialise," economists at Pantheon Macroeconomics wrote. Traders currently see a nearly 95% chance of a rate hike at the next central bank meeting in November, according to data compiled by LSEG. Ithaca Energy ITH.L rose 3.5% and was the top gainer on the FTSE 100 after it agreed to acquire Suncor Energy's SU.TO offshore oil assets for $842 million in upfront cash. "The industry has consistently bemoaned the tinkering in the fiscal and regulatory set-up for oil and gas in the UK and this deal for Canadian assets provides a level of diversification," said AJ Bell investment director Russ Mould. Investment firm 3i Group III.L hit its lowest level since late June and was last down 4.4%. (Reporting by Niket Nishant in Bengalur

Suncor agrees to sell Terra Nova, White Rose stakes to Ithaca for C$ 1.2 billion upfront

Suncor agreed to sell stakes in the Terra Nova, White Rose, West White Rose offshore assets to Ithaca for Cdn$ 1.2 billion cash. Deal includes a contingent payment of up to Cdn$ 350 million tied to future oil prices. Ithaca will assume future liabilities, including a Cdn$ 500 million Terra Nova well compliance program starting in 2027 and about Cdn$ 1.4 billion in abandonment and lease liabilities. Transaction effective July 1, 2026; closing expected in early 2027. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Suncor Energy Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-113453), on October 05, 2026, and is solely responsible for the information contained therein.

Suncor Energy to Sell Offshore Asset Stakes to Ithaca; Raises Buyback Plan

04:17 AM EDT, 10/05/2026 (MT Newswires) -- Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion Canadian dollars ($841.3 million) upfront cash, plus up to CA$350 million in contingent payments, Suncor said Sunday. Ithaca will assume investment commitments and all future liabilities related to the assets, including a CA$500 million regulatory well compliance program starting next year at Terra Nova and the total estimated abandonment and lease liabilities of CA$1.4 billion. The transaction is expected to close in early 2027. Suncor also said it increased share repurchases under its normal course issuer bid to CA$750 million from CA$500 million a month, starting in October.

BUZZ - Ithaca Energy's stock rises due to plans to acquire Suncor's Canadian offshore assets

October 5th - ** Ithaca Energy (ITH.L) shares rose 3% to £2.84, making it the top gainer on the London FTSE 100 Index (.FTSE) ** The oil and natural gas producer will acquire Suncor Energy's (SU.TO) Canadian offshore assets for $860 million, with a potential contingent consideration of up to $250 million depending on oil prices ** The company expects the deal to increase its 2P production to 35,000-40,000 barrels of oil equivalent per day by 2029 ** As of Friday's close, the company's stock price had risen by over 66%, compared to just 5.34% so far this year for the FTSE 100 Index. (To facilitate non-English speakers, Reuters has automated its reports into several other languages. Due to possible errors in automated translation or lack of desired context, Reuters does not guarantee the accuracy of automated translation texts, which are provided for reader convenience only. Reuters assumes no responsibility for any harm or loss caused by the use of automated translation features.)

Ithaca Energy agrees to buy Suncor’s offshore Canada assets for USD 860 million

Ithaca Energy plc agreed to buy Suncor’s offshore Newfoundland and Labrador oil assets for upfront cash consideration of USD 860 million. Deal includes contingent consideration of up to USD 250 million tied to Brent prices over a 27-month period starting July 1, 2026. Assets include a 48% operated stake in Terra Nova, a 40% non-operated interest in White Rose Existing Lands, a 38.6% stake in White Rose Growth Lands. Transaction adds 103 mmboe of 2P reserves, lifts average 2P production by about 30 kboe/d in 2027-2031. Completion targeted for H1 2027, financed with cash on hand, the borrowing base facility, secured in-country financing. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ithaca Energy plc published the original content used to generate this news brief on October 05, 2026, and is solely responsible for the information contained therein.

Suncor agrees to sell Terra Nova, White Rose stakes to Ithaca for Cdn$ 1.2 billion cash

Suncor agreed to sell stakes in the Terra Nova, White Rose, and West White Rose offshore assets to Ithaca Energy. Upfront consideration set at Cdn$ 1.2 billion cash, with a contingent payment of up to Cdn$ 350 million tied to oil prices. Ithaca will assume future investment commitments, including a Cdn$ 500 million well compliance program starting in 2027 at Terra Nova. The buyer will also take on estimated abandonment and lease liabilities of Cdn$ 1.4 billion. Effective date July 1, 2026; closing expected in early 2027. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Suncor Energy Inc. published the original content used to generate this news brief via Newsfile (Ref. ID: 202610041900NEWSFILECNPR____20261004_317317_1) on October 04, 2026, and is solely responsible for the information contained therein.

Suncor Energy Inc. Stock Rises Wednesday, Outperforms Market

Suncor Energy Inc. Stock Falls Tuesday, Underperforms Market

Suncor Energy Inc. Is Maintained at Outperform by National Bank

Suncor Energy Inc. Price Target Raised to C$146.00/Share From C$118.00 by National Bank

Suncor Energy Inc. Stock Rises Monday, Outperforms Market

Suncor Energy Inc. Stock Falls Friday, Underperforms Market

Suncor Energy Inc. Price Target Raised to C$110.00/Share From C$107.00 by Desjardins Securities

Suncor Energy Inc. Stock Rises Thursday, Outperforms Market

Suncor Energy Inc. Stock Falls Monday, Underperforms Market

Suncor Energy Inc. Stock Rises Thursday, Still Underperforms Market

Suncor Energy Inc. Is Maintained at Outperform by Raymond James

Suncor Energy Inc. Price Target Raised to C$118.00/Share From C$109.00 by Raymond James

Suncor Energy Inc. Stock Rises Tuesday, Outperforms Market

Suncor Energy Inc. Stock Falls Friday, Underperforms Market

Suncor Energy Inc. Stock Rises Thursday, Outperforms Market

Suncor Energy Inc. Stock Rises Wednesday, Outperforms Market

Suncor Energy Inc. Stock Falls Tuesday, Underperforms Market

Suncor Energy Inc. Stock Rises Friday, Still Underperforms Market

Suncor Energy Inc. Stock Rises Tuesday, Outperforms Market

Suncor Energy Inc. Stock Rises Monday, Outperforms Market