TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,950.85, down 46.12 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 25 cents, or 7.79 per cent, to $3.46 on 10.8 million shares.
Encana Corp. (TSX:ECA). Energy. Up six cents, or 1.12 per cent, to $5.41 on 6.9 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Up $3.45, or 14 per cent, to $28.17 on 6.4 million shares.
Wallbridge Mining Co. Ltd. (TSX:WM). Materials. Up 4.5 cents, or 5.73 per cent, to 83 cents on 5.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 25 cents, or 0.49 per cent, to $51.35 on 5.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down three cents, or 0.12 per cent, to $25.42 on 5.1 million shares.
Companies in the news:
Canopy Growth Corp. — Canopy Growth Corp.’s appointment of a veteran Constellation Brands executive as its new chief executive gave the cannabis producer’s shares a lift on Monday. The share surge came after the Smiths Falls, Ont., company announced that David Klein, the chief financial officer at Canopy’s largest shareholder, will replace Mark Zekulin effective Jan. 14. Klein has been serving as chairman of the board at Canopy, which intends to appoint a new chairman once Klein takes over as CEO. He said no company is better positioned to succeed in the emerging cannabis market. Zekulin is a founding employee at Canopy and has served in a variety of roles including president, co-CEO and finally as CEO after co-founder Bruce Linton was ousted earlier this year.
Transcontinental Inc. (TSX:TCL.A). Down 44 cents or 3.2 per cent to $13.10. A proposal by a Montreal municipal committee to drastically cut down on mail flyers is “insensitive, incoherent and impractical,” according to the CEO of Transcontinental Inc. Francois Olivier said Monday a recommendation last week by the municipality’s environmental committee to distribute the discount flyers only to residents who opt in fails to take into account Quebec consumers’ needs and hands a flyer monopoly to Canada Post. The head of the packaging and printing company joined with union members and media Monday to call for further consultation with Mayor Valerie Plante.
Hudson’s Bay Co. (TSX:HBC). Down nine cents to $9.04. Hudson’s Bay Co. minority shareholders should vote against a privatization bid led by the retailer’s executive chairman, says an influential proxy advisory service that points to a rejected, higher-priced offer. Institutional Shareholder Services Inc. recommended minority shareholders vote against the Richard Baker-led bid of $10.30 per share that has received the HBC board’s approval. The proxy advisory service raised several concerns about the sale process, including around disclosures and the ability for a special committee formed to review the Baker bid to consider other proposals. HBC said the ISS report is “flawed” and, among other things, misunderstands the superior proposal construct, it said.
This report by The Canadian Press was first published Dec. 9, 2019.
The Canadian Press