TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,816.80, down 206.06 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Down 28 cents, or 1.2 per cent, to $22.48 on 8.7 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down 23 cents, or 0.4 per cent, to $63.71 on 8.2 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down $1.38, or 1.7 per cent, to $81.84 on 8.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 91 cents, or 2.1 per cent, to $41.52 on 7.7 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down four cents, or 1.9 per cent, to $2.09 on 7.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up five cents, or 0.1 per cent, to $54.72 on 5.7 million shares.
Companies in the news:
Suncor Energy Inc. — Suncor Energy Inc. has cancelled its planned investor update about oilsands operations and safety in the wake of last week's resignation of chief executive Mark Little. The Calgary-based energy giant had scheduled the update, which was to take place Wednesday, months ago in response to investor concerns about operational performance and workplace safety. The company had pledged to provide an update on what it's doing to improve safety and operations at its oilsands facilities. Last Thursday, however, Suncor suffered another workplace death, this time of a contractor at its Base Mine near Fort McMurray, Alta. One day later, the company announced Little would immediately step down. In a news release, board chair Michael Wilson cited "the critical need for change" due to Suncor having "fallen short" of its own safety and operational standards. Earlier this spring, Suncor found itself in the crosshairs of well-known U.S.-based activist investor Elliot Investment Management, which wrote a letter calling for an overhaul of Suncor's board and management. Elliot highlighted Suncor's safety track record, as well as other operational challenges and the company's lagging share price.
Rogers Communications Inc. (TSX:RCI.B). Down $2.84 or 4.6 per cent to $58.70. A Friday outage from Rogers Communications Inc. resulted in some small businesses losing thousands of dollars, which they fear the telecommunications giant won’t fully compensate them for. They say the internet and mobile phone service outage that lasted most of Friday and for some, into the weekend, left them unable to serve customers as they usually would. In many cases, businesses couldn't even accept debit cards because payments processor Interac relies on Rogers. Rogers chief executive Tony Staffieri apologized Friday for the outage caused by a network system failure following a maintenance update, which affected 911 calls among many other disruptions. He promised customers would be credited for the downtime. Asked for more specifics around the compensation, Rogers did not immediately respond to a request for comment, but its @RogersHelps Twitter account tweeted to some customers that the credit will be "equivalent to two days of service" and automatically applied to accounts.
Dye & Durham Ltd. (TSX:DND). Down $1.03 or 4.8 per cent to $20.39. The board of Australian company Link Administration Holdings Ltd. is rejecting the latest takeover offer by Dye & Durham Ltd. The board says it is unable to recommend the offer, but added it is continuing to engage with the Canadian company. Last week, Dye & Durham offered up to A$4.70 per share for Link including A$4.57 per share plus up to 13 cents per share for the proceeds from the sale of its banking and credit management business. The offer was up from a June offer of A$4.30 per share, but down from Dye & Durham's proposal of A$5.50 per share in December. The Toronto-based company has said the acquisition would expand its customer base in key U.K. and Australian markets and strengthen its business-to-business software and information service solutions. The Australian Competition and Consumer Commission said last month it had significant preliminary competition concerns with the deal.
This report by The Canadian Press was first published July 11, 2022.
The Canadian Press
