TORONTO 鈥� Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,318.36, down 13.18 points):
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down two cents, or 0.02 per cent, to $84.78 on 16.5 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 68 cents, or 1.6 per cent, to $41.09 on 16.4 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 18 cents, or 0.8 per cent, to $21.94 on 11.7 million shares.
Bitfarms Ltd. (TSX:BITF). Technology. Down 43 cents, or 12.3 per cent, to $3.08 on 11 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Down six cents, or 5.6 per cent, to $1.01 on 9.9 million shares.
Manulife Financial Corp. (TSX:MFC). Insurance. Up 87 cents, or 3.2 per cent, to $27.95 on 8.9 million shares.
Companies in the news:
Gildan Activewear Inc. (TSX:GIL). Down $5.39, or 10.9 per cent, to $44.22. After 40 years with the company and nearly 20 as president and chief executive, Glenn Chamandy said he's been terminated without cause. The Montreal-based apparel company co-founded by Chamandy and his brother Greg announced Monday that outsider Vince Tyra would take on the roles of president and chief executive. The company did not release reasons for Chamandy's exit, saying only that he has "left his position" and "has been a forerunner in our industry, taking Gildan from a small family-owned business to a leading apparel company with over US$3 billion in revenues."
Manulife Financial Corp. has signed a reinsurance deal with Global Atlantic that it says will free up $1.2 billion in capital that it plans to use to buy back shares. The Toronto-based insurer said Monday it is reinsuring $13 billion of reserves to Global Atlantic and its partners, including $6 billion in long-term care reserves. By having Global Atlantic agree to insure its exposure to the portfolios, Manulife said the deal is expected to release $1.2 billion of capital that it plans to return to shareholders via share buybacks.
TC Energy Corp. (TSX:TRP). Up 58 cents, or 1.1 per cent, to $52.23. The company behind the Coastal GasLink pipeline is pursuing $1.2 billion in cost recoveries from one of its contractors. TC Energy Corp. terminated a contract with Pacific Atlantic Pipeline Construction last year, alleging poor performance. The company was one of the main contractors involved in the building of Coastal GasLink. The 670-kilometre pipeline was completed in October, but its construction was plagued with difficulties including challenging terrain, bad weather, the COVID-19 pandemic and protests by environmental and Indigenous groups.
This report by The Canadian Press was first published Dec. 11, 2023.
The Canadian Press
