TORONTO - Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange:

Toronto Stock Exchange (12,239.04 up 36.19 points):

Telus Corp. (TSX:T). Telecommunications. Up 27 cents, or 0.42 per cent, at $64.84 on 15,576,408 shares. Foreign ownership has been cut in half at the telecom company, leading it to believe that a U.S. hedge fund has reduced its stake in Telus. The company said its non-Canadian ownership of the company is roughly 15 per cent as of Nov. 16, down from almost 33 per cent last summer. Large Canadian telecom companies can't have foreign ownership levels that exceed 33.3 per cent.

Precision Drilling Corp. (TSX:PD). Drilling services. Up 22 cents, or 3.05 per cent, at $7.44 on 11,374,474 shares.

Manulife Financial Corp. (TSX:MFC). Insurer. Down five cents, or 0.39 per cent, at $12.78 on 6,177,548 shares. Richard DeWolfe will become chairman of the insurance company's board when Gail Cook-Bennett retires. DeWolfe, 68, will initially become vice-chairman effective Saturday, and become chairman at Manulife's annual meeting in May.

Bombardier Inc. (TSXV:BBD.B). Transportation equipment. Up 11 cents, or 3.24 per cent, at $3.51 on 5,571,675 shares.

Talisman Energy Inc. (TSX:TLM). Oil and gas. Down 37 cents, or 3.20 per cent, at $11.18 on 5,469,823 shares.

Research In Motion Ltd. (TSX:RIM). Wireless telecommunications. Up 11 cents, or 0.96 per cent, at $11.59 on 5,415,768 shares. The BlackBerry maker's stock has been actively trading in the past weeks as several analysts weigh in on the prospect of its new operating system, which will come out in January. Earlier this week, Nokia Corp. asked courts in several countries to uphold a Swedish arbitrator's ruling that could prevent RIM from using short range WiFi patented wireless technology.

TSX Venture Exchange (1,220.90 up 2.52 points):

Castillian Resources Corp. (TSXV:CT). Mineral explorer. Unchanged at 2.5 cents on 4,228,000 shares.

Cantronic Systems Inc. (TSXV:CTS). Surveillance technology. Up 1.5 cents, or 75 per cent, at 3.5 cents on 4,141,730 shares. Director and CEO James Zahn announced a proposal Friday for the company to go private citing "tough market conditions for public companies with operations in China, deteriorating sales results and high cost of maintaining a stock exchange listing."

Companies reporting major news:

Cenovus Energy (TSX:CVE). Up 29 cents, or 0.88 per cent, at $33.36 on 1,704,508 shares. Environment Minister Peter Kent rejected an Alberta gas project by the Calgary-based company which involves a project in the CFB Suffield national wildlife area. Kent says the gas project would put wildlife at risk.

DragonWave Inc. (TSX:DWI) Telecom equipment. Up 34 cents, or 16.50 per cent, at $2.40 on 48,420 shares. The Ottawa-based company completed the deal to acquire some of Nokia Siemens Networks' operations in China, adding about 100 employees to the Ottawa-based company's operations. DragonWave has said that the price paid on closing will be about US$15.4 million in cash and about two million common shares of DragonWave, which would be worth about $4.8 million.