TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,874.01, down 80.74 points.)
Canadian Natural Resources (TSX:CNQ). Down $1.72, or 4.25 per cent, to $38.71 on 25.4 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up two cents, or 2.82 per cent, to 73 cents on 11.6 million shares.
Barrick Gold Corp. (TSX:ABX). Down 15 cents, or 0.58 per cent, to $25.78 on 9.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 68 cents, or 2.34 per cent, to $28.34 on 8.5 million shares.
Xebec Adsorption Inc. (TSX:XBC). Industrials. Down 78 cents, or 16.12 per cent, to $4.06 on 8.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 27 cents, or 0.59 per cent, to $45.35 on 7.7 million shares.
Companies in the news:
Empire Company Ltd. (TSX:EMB.A). Up 72 cents, or 1.9 per cent, to $38.49. Empire Company Ltd. has agreed to buy a majority stake in supermarket chain Longo's and its Grocery Gateway e-commerce business in a deal that further consolidates Canada's grocery retail landscape. The Sobeys parent company said Tuesday the $357-million deal expands its reach in the lucrative southwestern Ontario market, building on its recent acquisition of Farm Boy. It also solidifies Empire's position as one of the largest supermarket operators in Canada's increasingly concentrated grocery market, ahead of food retailers like Metro, Costco and Walmart, but behind No. 1 Loblaw. Empire CEO Michael Medline said Longo's will be managed separately and that Empire will not "change or spoil" the specialty grocer.
Le Chateau — A U.S. advisory firm is hoping that Canadian clothing retailer Le Chateau will rise from the ashes of insolvency. Hilco Streambank says Le Chateau's e-commerce platform, brand assets and some locations are available for purchase through the Companies' Creditors Arrangement Act proceedings. Expressions of interest are due April 7 with the sale being subject to approval by the Quebec Superior Court. The 60-year-old Montreal-based retailer filed for creditor protection last October, joining several companies that have been affected by the impact of COVID-19 and a change in consumer tastes. Le Chateau is in the process of liquidating its more than 100 stores across Canada. The online business is scheduled to end Friday at 5 p.m., according to its website.
Air Canada (TSX:AC). Down $1.01, or 3.4 per cent, to $28.79. On the one-year anniversary of increased restrictions on non-essential travel to Canada, union leaders renewed their call for government aid for the country's struggling aviation sector. In a press conference organized by Unifor, whose members include workers in the aviation industry, union leaders said they were frustrated by the government's lack of action even after many meetings between union and government officials over the last year. Some cities in Canada have been left with drastically limited access to air travel, particularly in the Atlantic provinces. WestJet and Air Canada have both cut many routes in Atlantic Canada since the start of the pandemic, affecting the regional economy and threatening the survival of certain airports, which depend on revenues from passengers and airlines.
This report by The Canadian Press was first published March 16, 2021.
The Canadian Press