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Most actively traded companies on the Toronto Stock Exchange

Canadian Press - Thu Dec 16, 2021

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:

Toronto Stock Exchange (20,739.78, down 29.38 points.)

Manulife Financial Corp. (TSX:MFC). Financials. Down 36 cents, or 1.5 per cent, to $23.54 on 9.9 million shares.

Kinross Gold Corp. (TSX:K). Materials. Up 43 cents, or 6.6 per cent, to $6.90 on 8.8 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Up eight cents, or 0.3 per cent, to $30.28 on 8.5 million shares.

Baytex Energy Corp. (TSX:BTE). Materials. Down eight cents, or 2.2 per cent, to $3.58 on 7.4 million shares.

Athabasca Oil Corp. (TSX:ATH). Energy. Down five cents, or 4.3 per cent, to $1.10 on 6.8 million shares.

Cenovus Energy Inc. (TSX:CVE). Energy. Down six cents, or 0.4 per cent, to $15.06 on 6.2 million shares.

Companies in the news:

Resolute Forest Products Inc. (TSX:RFP). Up 12 cents to $16.93. Resolute Forest Products Inc. is indefinitely idling its pulp and paper operations at its mill in Calhoun, Tenn., affecting 350 employees. Tissue manufacturing and converting will continue at the site and the adjacent distribution centre will remain in full operation. The Montreal-based company says the mill lost US$62 million over the 12 months ending Sept. 30 despite strong market conditions for pulp and uncoated freesheet paper. Resolute says pulp and paper operations will continue for up to 60 days to ensure an orderly shutdown, to accommodate environmental safeguards and to transition customers. The facility, which employs 545 people, has an annual capacity of 147,000 tonnes of pulp and 149,000 tonnes of paper as well as 60,000 tonnes of tissue. It expects the move once completed will improve its overall operating income by US$35 million to US$40 million. Resolute expects to record US$135 million in non-cash impairment and accelerated depreciation charges as well as a US$32-million asset writedown in the fourth quarter.

Transat A.T. (TSX:TRZ). Down seven cents or 1.7 per cent to $3.98. The relationship between Canada's airline watchdog and the travel industry is under scrutiny after the release of emails from the early days of the COVID-19 pandemic in which industry executives pressed regulators to back their position against issuing passenger refunds, days before the Canadian Transportation Agency did just that. Disclosed under a Federal Court of Appeal order, a March 22 letter from then-Transat CEO Jean-Marc Eustache asked the CTA to issue a statement pre-empting complaints and lawsuits amid thousands of flight cancellations at the outset of the pandemic. Three days later, the CTA posted a statement that airlines could generally issue flight credits or vouchers to customers whose flights had been cancelled due to the pandemic, rather than reimbursing them. The Association of Canadian Travel Agencies also wrote to the regulator asking it to help them with "prevention of credit card chargebacks." Gabor Lukacs, president of advocacy group Air Passenger Rights, says the behind-the-scenes communication between executives and the quasi-judicial body compromises the agency's independence.

This report by The Canadian Press was first published Dec. 16, 2021.