TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,191.66, up 8.23 points.)
The Toronto-Dominion Bank (TSX:TD). Financials. Down 39 cents, or 0.45 per cent, to $85.50 on 17.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down eight cents, or 3.81 per cent, to $2.02 on 15.8 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Down 38 cents, or 0.49 per cent, to $77.55 on 10.5 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down 86 cents, or 1.75 per cent, to $48.27 on 7.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 34 cents, or 1.38 per cent, to $24.34 on 6.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 69 cents, or 2.48 per cent, to $27.12 on 6.3 million shares.
Companies in the news:
Cineplex Inc. (TSX:CGX). Down 13 cents to $14.03. Cineworld Group PLC's chief executive was planning to sell off Cineplex Inc.'s RecRoom and signage business in a secret initiative he called "Project Jumanji." The U.K. cinema chain's head Moshe "Mooky" Greidinger testified Wednesday at the Ontario Superior Court of Justice that his company was looking to find buyers for the businesses because he wanted to focus on theatres and Cineworld didn't have expertise in these other areas. Greidinger called the digital sign venture and arcade and dining venues known as RecRoom "good businesses," but said his company was drawing up documents and looking for buyers up until March, when "all hell broke loose" and COVID-19 spread. Greidinger's remarks are part of a multibillion-dollar court case that has seen his cinema company face off against Cineplex, the Toronto theatre chain it announced it would purchase for $2.8 billion in December 2019. Cineworld backed out of the deal to buy Cineplex Inc. in June 2020, arguing it had the right to terminate the agreement without payment because Cineplex strayed from “ordinary course.” Cineplex is seeking more than $2.18 billion in damages from Cineworld, which filed a counter claim valued at about $54.8 million.
Dow Inc. — Dow Inc. says it has plans to expand and decarbonize its petrochemicals site at Fort Saskatchewan, Alta. The U.S.-based chemical company says it will build a net-zero carbon emissions ethylene and derivatives complex at the site. It says it will be the first facility of its kind in the world. Dow says the project would more than triple Dow's ethylene and polyethylene capacity from the Fort Saskatchewan site. It will also retrofit the site's existing assets to net-zero carbon emissions. The new facility will convert cracker off-gas into hydrogen as a clean fuel for use in petrochemical production. Carbon dioxide will be captured on-site to be transported and stored by adjacent third-party infrastructure. The company has not disclosed a total investment figure for the project, which is dependent on obtaining board and regulatory approvals. Dow's existing Fort Saskatchewan site employs approximately 1,200 people. The company says the new facility could be fully operational by 2030.
This report by The Canadian Press was first published Oct. 6, 2021.
The Canadian Press
