TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,594.97, down 49.67 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 30 cents, or 1.24 per cent, to $23.90 on 20 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down 34 cents, or 0.8 per cent, to $42.08 on 13.3 million shares.
Nevada Copper Corp. (TSX:NCU). Materials. Down half a cent, or 5.26 per cent, to nine cents on 12 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 2.98 per cent, to $1.73 on 6.5 million shares.
Sun Life Financial Inc. (TSX:SLF). Financials. Down 51 cents, or 0.78 per cent, to $65.18 on 5.9 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 47 cents, or 1.87 per cent, to $24.63 on 4.7 million shares.
Companies in the news:
Quebecor Inc. (TSX:QBR.B). Up five cents to $31.57. BCE Inc. and Telus Corp. are asking the Federal Court to block Quebecor Inc.'s purchase of 5G spectrum in Western Canada, stating the company didn't meet the requirements to bid on airwaves there. The court challenges come after an auction of a key 5G spectrum by Innovation, Science and Economic Development Canada this summer. The companies said Quebecor subsidiary Videotron was able to purchase spectrum in Manitoba, Alberta and British Columbia that was set aside for smaller carriers, allowing it to access airwaves at a cheaper price than Canada's largest carriers. Bell said the set-aside spectrum for smaller carriers was only eligible to companies that have pre-existing operations in the jurisdiction, and argued Quebecor doesn't have a presence in those provinces. Telus and Bell are asking the court to block Quebecor's purchase and for the government to hold the auction again. However, Quebecor CEO Pierre Karl Péladeau said his company is eligible because its affiliate Fibrenoire Inc. provides business services in several provinces outside Quebec. Telus acknowledged Fibrenoire's services in its court filing, but said the company focuses on providing services in Ontario and Quebec.
Intact Financial Corp. (TSX:IFC). Down 81 cents to $172.49. Ontario's Superior Court of Justice has certified a class-action lawsuit against 14 insurance companies that denied business interruption claims related to COVID-19. The class action, launched by several small businesses including a suit store, a smoothie shop and a dance studio, claims businesses across Canada suffered billions of dollars in losses after they were forced to close because of the pandemic. To be part of the class action, a business has to have filed a business interruption claim with one of the defendants by Aug. 31 for business losses related to the virus specifically affecting their premises, or from the order of a civil authority. According to court filings, insurance companies including the Co-operators General Insurance Company and Intact Financial Corp. have denied business interruption claims in part because the coverage requires physical loss or damage to the property, which they argue the presence of a virus on the property and government orders restricting operations don't count toward. The class action certified on Aug. 20 by Justice Edward Belobaba against the group of insurers is separate from other class-action lawsuits certified last month against the Canadian subsidiary of U.K.-based Aviva plc.
This report by The Canadian Press was first published Aug. 30, 2021.
The Canadian Press