TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,230.23, down 43.03 points.)
Nevada Copper Corp. (TSX:NCU). Materials. Down 1.5 cents, or 14.29 per cent, to nine cents on 9.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 14 cents, or 0.37 per cent, to $38.03 on 7.8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 13 cents, or 0.7 per cent, to $18.57 on 6.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 55 cents, or 3.5 per cent, to $15.11 on 6.2 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up five cents, or 0.09 per cent, to $55.63 on 5.9 million shares.
Royal Bank of Canada. (TSX:RY). Financials. Up 83 cents, or 0.87 per cent, to $96.73 on 5.7 million shares.
Companies in the news:
Cogeco Communications Inc. (TSX:CCA). Down 38 cents to $99.44. Cogeco Communications says it plans to buy DERYTelecom for $405 million, adding about 100,000 internet and cable customers in its home province of Quebec. The chief executive of Cogeco Communications, the group’s main operating company, says DERYTelecom is a strategic fit with territory in areas near Cogeco’s Quebec footprint. Cogeco CEO Philippe Jette also says his company has a record of successful acquisitions, including five cable businesses bought in the past five years. Cogeco estimates it can achieve about $3 million in operational savings over the first year after closing with DERYTelecom, plus gain $40 million of tax benefits.
Restaurant Brands International Inc. (TSX:QSR). Down 26 cents to $74.20. Tim Hortons is ending the practice of double cupping hot drinks, a move the fast food restaurant says will eliminate hundreds of millions of cups from landfills each year. The subsidiary of Restaurant Brands International Inc. will instead provide customers with a cup sleeve, a thick paper material that protects hands from hot beverages. Public reaction on social media was mixed, with some wondering why double cupping wasn’t ended a decade ago while others decried the change and suggested double cupping was necessary for hot tea. The company expects that stopping the practice of double cupping will save roughly 200 million cups from being tossed in the garbage every year.
RioCan Real Estate Investment Trust (TSX:REI.UN). Up 19 cents to $14.75. RioCan Real Estate Investment Trust says Jonathan Gitlin, currently the trust’s president and chief operating officer, will succeed Edward Sonshine as chief executive next year. Gitlin will become CEO effective April 1, 2021. Sonshine will become non-executive chairman of RioCan’s board of trustees. Paul Godfrey, RioCan’s current chairman, will step down and become lead trustee. RioCan says Gitlin joined the trust in 2005 and held a series of key leadership roles before being appointed president and chief operating officer in March 2019.
Boralex Inc. (TSX:BLX). Down 17 cents to $41.85. Boralex Inc. has named chief operating officer Patrick Decostre as the renewable power producer’s next chief executive. Decostre is to replace Patrick Lemaire, who is set to retire at the end of the year. Lemaire has been at the head of Boralex since September 2006. Decostre joined the company in 2001 and spent 18 years building its business in Europe. He was named chief operating officer in 2019. Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States.
This report by The Canadian Press was first published Oct. 21, 2020.
The Canadian Press