TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,538.22, down 200.97 points.)
TC Energy Corp. (TSX:TRP). Energy. Up 18 cents, or 0.31 per cent, to $58.89 on 13.2 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 17 cents, or 4.9 per cent, to $3.31 on 12.4 million shares.
Lundin Mining Corp. (TSX:LUN). Basic Materials. Down $1.80, or 16.87 per cent, to $8.87 on 8.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 12 cents, or 2.5 per cent, to $47.77 on 8.1 million shares.
BCE Inc. (TSX:BCE). Telecommunications. Unchanged at $65.69 on 7.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Unchanged at $29.90 on 7.0 million shares.
Companies in the news:
BMO Financial Group (TSX:BMO). Down $2.57 or 1.92 per cent to $131.54 — BMO Financial Group is deepening its U.S. presence with a US$16.3 billion deal to buy a subsidiary owned by French bank BNP Paribas. BMO and its Chicago-based subsidiary BMO Harris Bank announced Monday that it was purchasing BNP Paribas' Bank of the West to bolster its customer count and drive more growth in coveted market. The US$16.3 billion acquisition price is estimated to be 1.5 times Bank of the West’s book value. The deal, which was funded primarily with existing capital, is one of the bank's first major cash deployments after it spent more than a year building up its coffers in the event of mass loan defaults during COVID-19. When government spending averted some of the financial fears bankers had surrounding the pandemic, BMO and other banks were left in a prime position to spend.
Canadian National Railway Co. (TSX:CNR). Down $9.62 or 5.86 per cent to $154.50 — Canadian National Railway Co. says Jim Vena has removed himself from of the running to become the company's new CEO. CN says Vena, a former executive favoured by activist shareholder TCI Fund Management Ltd. to run the company, notified the board on Sunday that he is no longer interested in pursuing the role and has withdrawn from the process. The Montreal-based company says it provided the update on its search process on Monday because TCI has called a special meeting of shareholders for March 2022, with one goal being to have Vena appointed CEO of CN. CN says it expects to complete the CEO search process and announce a replacement for outgoing CEO Jean-Jacques Ruest in January. Ruest had been a target for replacement by TCI. CN says its search committee has identified and continues to interview a number of candidates.
Alimentation Couche-Tard Inc. (TSX:ATD). Up 78 cents or 1.6 per cent to $49.67 — Alimentation Couche-Tard Inc. says it has signed a deal with Pic Quik to purchase 19 convenience stores and two non-operating properties in New Mexico. The Quebec-based company says the sites, largely in southern New Mexico, are a strategic fit with its existing network. Alex Miller, Couche-Tard's executive vice-president of operations for North America, says the acquisition will help the company build on its strong network in the state. He says the company is pleased to welcome the Pic Quik locations and team to its Circle K family in New Mexico. Financial terms of the acquisition, which closed last week, were not disclosed. Couche-Tard operates more than 14,000 convenience stores in 26 countries and territories, with about 10,800 of those selling gas.
This report by The Canadian Press was first published Dec. 20, 2021.
The Canadian Press
