TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,948.91, up 94.84 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Up 11 cents, or 23.4 per cent, to 58 cents on 35.1 million shares.
HEXO Corp. (TSX:HEXO). Health care. Up 48 cents, or 44.4 per cent, to $1.56 on 32.6 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 10 cents, or 11.9 per cent, to 94 cents on 20.9 million shares.
Air Canada (TSX:AC). Industrials. Up $3.10, or 15.28 per cent, to $23.39 on 16.7 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 39 cents, or 1.35 per cent, to $29.25 on 16.4 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 58 cents, or 2.97 per cent, to $20.10 on 16 million shares.
Business in the news:
OIL AND GAS SECTOR — New forecasts show dramatically lower expectations for 2020 capital spending in the oil and gas sector both nationally and in Alberta, the province that produces 65 per cent of the country's natural gas and 82 per cent of its oil. The Canadian Association of Petroleum Producers now estimates that $23.3 billion will be spent in the oil and gas production sector in Canada this year, down from about $37 billion in its January forecast. Producers have announced billions of dollars in budget cuts since the start of the year to cope with lower oil prices as global energy demand plummets due to measures taken to control the COVID-19 pandemic.
COMMERCIAL EVICTIONS — The Ontario government is putting a temporary ban on commercial evictions to help small business owners who are struggling to pay their rent amid the COVID-19 fallout. Premier Doug Ford announced the moratorium on Monday which applies to small businesses who qualify for the Canada Emergency Commercial Rent Assistance program (CECRA), where their revenues have dropped at least 70 per cent due to the pandemic. Ford outlined the details at a news conference, saying the ban will take effect for evictions as of June 3 and last until Aug. 31.
COVID-WORK-INEQUALITY — Women, along with people with higher earnings and those with more education, are more likely to be able to work from home and therefore less likely to suffer a loss of employment income due to measures to limit the spread of COVID-19, according to a new report. Canadians who can work from home, much like those in essential services and those whose jobs allow physical distancing, are less likely to have been laid off or have their hours reduced since the pandemic began, Statistics Canada said in a report on employment inequality released Monday. The agency said about 40 per cent of Canadians are in jobs that can be done from home and those jobs will continue to be attractive for their work-life balance options even after the pandemic is over.
This report by The Canadian Press was first published June 8, 2020.
The Canadian Press