TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,788.60, down 142.23 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Down 17 cents, or 0.6 per cent, to $26.67 on 10.4 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down $1.05, or one per cent, to $99.14 on 8.1 million shares.
Tilray Inc. (TSX:TLRY). Health care. Up 34 cents, or 3.9 per cent, to $9.10 on 7.1 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down two cents, or one per cent, to $1.99 on seven million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 73 cents, or 3.4 per cent, to $20.62 on 5.9 million shares.
StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Down one cent, or 8.7 per cent, to 10.5 cents on 5.8 million shares.
Companies in the news:
Tilray Brands Inc. — Labatt Breweries of Canada will wind down its non-alcoholic beverages company that made drinks containing some of the active ingredients found in cannabis. Fluent Beverages chief executive Jorn Soquet revealed the end of the company's Canadian operations in an email to The Canadian Press, but did not share what prompted the decision. The venture began in 2018 as a partnership between Labatt parent company AB InBev and cannabis producer Tilray Brands Inc., but earlier this year, Tilray said it "concluded" the relationship and negotiated an arrangement to manufacture CBD beverages on behalf of Fluent. Meanwhile, Tilray said it earned US$52.5 million in the third quarter, compared with a loss of US$258.6 million during the same period a year ago. Revenue were US$151.9 million, up from US$123.9 million in the same quarter last year.
Kinross Gold Corp. (TSX:K). Up four cents to $7.34. Asante Gold Corp. says it has entered into an exclusivity agreement with Kinross Gold Corp. to negotiate the potential purchase of all the Canadian mining company's interests in Ghana. The Vancouver-based company says the negotiations would include Toronto-based Kinross's interest in the Chirano gold mine. Kinross owns a 90 per cent stake in the mine, while the government of Ghana holds a 10 per cent interest. The Chirano mine is an open-pit and underground mining operation. It's located in southwestern Ghana near Asante's Bibiani gold mine. Asante says Chirano was explored and developed in 1996 and began production in October 2005.
Air Canada (TSX:AC). Down 53 cents or 2.3 per cent to $22.97. Canadian airlines asked a Federal Court of Appeal panel Wednesday to quash rules that bolster compensation for passengers subjected to delayed flights and damaged luggage. Air Canada and Porter Airlines Inc., along with 16 other appellants that include the International Air Transport Association — IATA has about 290 member airlines — argue that the country’s three-year-old passenger rights charter violates global standards and should be rendered invalid for international flights. Launched in 2019, the legal action states the new provisions exceed the Canadian Transportation Agency's authority. They also contravene the Montreal Convention, a multilateral treaty, by imposing heftier compensation requirements for flight cancellations or lost baggage. For example, the rules demand higher damages based on the length of a delay and regardless of "the actual damage sustained by each individual passenger," according to the appellants. Ottawa argues that there is no conflict between the passenger protections and the Montreal Convention.
This report by The Canadian Press was first published April 6, 2022.
The Canadian Press
