TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,981.77, down 217.20 points.)
Canadian Natural Resources (TSX:CNQ). Down $1.07, or 4.62 per cent, to $22.09 on 20.2 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 75 cents, or 4.25 per cent, to $16.89 on 14.8 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down a cent, or 7.69 per cent, to six cents on 10.6 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down five cents, or 8.93 per cent, to 51 cents, on 8.8 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down 82 cents, or 6.26 per cent, to $12.27 on 8.6 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Down 57 cents, or 1.03 per cent, to $54.58 on 8.2 million shares.
Companies in the news:
Obsidian Energy Ltd. (TSX:OBE). Down three cents or 5.3 per cent to 54 cents. Bonterra Energy Corp. (TSX:BNE). Down one cent or 0.82 per cent to $1.21. Obsidian is formalizing its hostile takeover bid for rival Bonterra. It says it will offer two Obsidian shares for each Bonterra share until Jan. 4. The share-swap offer is the same as the proposal in a declaration of intent made in late August, despite Bonterra shares continuing to trade for more double those of Obsidian. On Friday, Bonterra stock closed at $1.22 per share, about 2.1 times the value of Obsidian stock at 57 cents. In a news release, it says the merged company have production of 35,000 barrels of oil equivalent per day, three times the size of Bonterra in the second quarter.
Air Canada (TSX:AC). Down $1.47 or 8.2 per cent to $16.51. Air Canada had more refund-related complaints to the U.S. Department of Transportation than any other foreign carrier in June, and the second-highest number of any airline for the second-straight month. The department says Air Canada was the target of 1,028 refund complaints or 13 per cent of the 7,811 filed against non-U.S. airlines in the month, outpacing more than 90 foreign carriers in the category. Chicago-based United Airlines was the only airline with more refund complaints, at 1,467. Along with other Canadian carriers, Air Canada has refused to reimburse most customers whose flights were cancelled due to the COVID-19 pandemic since Ottawa has not made such refunds mandatory.
TC Energy Corp. (TSX:TRP). Down 96 cents or 1.6 per cent to $59.51. The long-standing chief executive of TC Energy Corp. is set to retire having overseen a corporate name change and dramatic growth and stock price appreciation, but without achieving completion of the contentious Keystone XL pipeline project. The Calgary-based pipeline, utility and power generation company has announced that Russ Girling will retire at the end of this year after 10 years as president and CEO, also giving up his seat on the board of directors. He is to be replaced as director and CEO by chief operating officer Francois Poirier, who is also president for power and storage and Mexican operations.
CI Financial Corp. (TSX:CIX). Down 51 cents or 2.8 per cent to $17.53. CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC. The firm based in Cincinnati has US$450 million in assets under management. Financial terms of the transaction were not disclosed. Bowling provides financial planning and investment management services to high-net-worth clients. CI has been expanding its operations in the U.S. this year in a series of acquisitions. It says when all pending transactions close, it will hold interests in wealth management firms across the U.S. with combined assets of approximately US$11.5 billion.
This report by The Canadian Press was first published Sept. 21, 2020.
The Canadian Press
