Most actively traded companies on the Toronto Stock Exchange

TORONTO Some of the most active companies trading on the Toronto Stock Exchange on Monday:

Toronto Stock Exchange (20,582.94, down 12.03 points.)

Bombardier Inc. (TSX:BBD.B). Industrial. Up 11 cents, or 6.4 percent, to $1.84 on 11.6 million shares.

Canadian Pacific Railway Ltd. (TSX:CP). Industrial. Down $4.13, or 4.55 percent, to $86.69 on 7.3 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Down 34 cents, or 1.42 percent, to $23.56 on 7.1 million shares.

Manulife Financial Corp. (TSX:MFC). Finance. Six cents, or 0.24 percent, fell to $24.57 on 6.5 million shares.

Enbridge Inc. (TSX:ENB). Energy. Down 15 cents, or 0.3 percent, to $49.65 on 6.5 million shares.

Cenovus Energy Inc. (TSX:CVE). Energy. Six cents, or 0.58 percent, rose to $10.47 on 6.2 million shares.

Companies in the news:

Food Couche-Tard Inc. (TSX:ATD.B). Down 90 cents or 1.7 percent to $50.98. Alimentation Couche-Tard Inc. exceeded expectations, even as net profit fell in the first quarter of the fiscal year despite a 40 percent increase in sales. The Quebec-based supermarket chain earned $764.4 million or 71 cents per diluted share, compared to $777.1 million or 70 cents per share a year earlier. Adjusted profit declined 4.7 percent to $758 million, from $795 million in the first quarter of 2020. On a stock basis, it remained flat at 71 cents. Revenue for the three months ended July 18 was US$13.58 billion, up from US$9.71 billion in the same period last year. Total merchandise sales were up 5.4 percent, with same-store sales, a key retail measure, down 0.2 percent in the US and 9.6 percent in Canada and up 5.9 percent in Europe and Canada. other regions. Same-store fuel volume increased by 11.8 percent in the US, 10.4 percent in Canada and 6.3 percent in Europe. Couche-Tard, which operates Circle K in Canada, the US and Europe, as well as other countries, is expected to earn 65 cents a share in adjusted earnings on US$13.27 billion in revenue, according to financial data firm Refinitiv.

Canadian National Railway Co. (TSX:CNR). $10.17 or 7.4 percent up to $148.40. The takeover bid from Canadian National Railway Co. on Kansas City Southern Railway has been called into question after a US regulator denied using a voting trust structure. The US Surface Transportation Board said Tuesday that the trust would reduce incentives for competition between the two railroads whose networks overlap and is not in line with the public interest standard under its merger regulations. The trust would have allowed KCS to remain independent while a full and lengthy review of the proposed acquisition continues, while also paying shareholders without waiting for a final decision on the deal. The Surface Transportation Board said that while the trust would mean CN had no direct control over the KCS business, it would still be a beneficial owner and share in the profits. The Surface Transportation Board said CN could still try to move forward with the acquisition, but it would have to wait for the full regulatory review of the proposal to be completed. National Bank analyst Cameron Doerksen said that while CN could try to go through with the merger and potentially appeal the decision, KCS would likely move to re-involve CP in a potential merger.

Noront Resources Ltd. (TSXV:NOT). Two cents or 2.6 percent dropped to 75 cents. The board of Noront Resources Ltd. maintains its support for a takeover bid for the company by BHP, despite a richer proposal from Wyloo Metals Pty Ltd. The company says Wyloo’s proposed offer of 70 cents per share is a non-binding proposal to Noront’s board and that the only binding offer is BHP’s offer of 55 cents per share. It notes that Wyloo’s offering is conditional on the completion of due diligence and negotiation and execution of a final settlement agreement. Noront is developing several projects in the Ring of Fire region of northern Ontario. BHP’s offer requires that more than 50 percent of the Noront shares, which are not owned by BHP, be tendered in the offer. Wyloo Metals, which owns a 37.5 percent stake in Noront, has said it will not support BHP’s offer.

This report from The Canadian Press was first published on August 31, 2021.

The Canadian Press