By Adriano Marchese
Stocks in Toronto were slightly lower.
Most sectors were trending lower Monday. Consumer discretionary, materials and process industries stocks led the decline, while only tech posted gains.
Canada’s S&P/TSX Composite Index was 0.28% lower at 20273.92. The blue-chip S&P/TSX 60 fell by 0.13% to 1224.50.
Gildan Activewear shares fell by 10% to 44.64 Canadian dollars ($32.86) after the company said that it has appointed Vince Tyra to the role of chief executive, replacing long-time head Glenn Chamandy. In a separate statement, Chamandy, who cofounded the company with his brother, said his contract was terminated without cause because of differing views on the company’s direction.
Other market movers:
Shares of Secure Energy Services were 7.8% higher at C$8.48 after it agreed to sell 30 energy waste treatment and disposal facilities to Waste Connections for C$1.08 billion. Shares of Waste Connections were up as well, rising 1.6% to C$191.01.
Manulife Financial shares rose by 2.2% to C$27.67 after it said it agreed to a C$13 billion reinsurance deal with Global Atlantic, reinsuring four blocks of legacy and low return-on-equity business.
ADF Group shares were higher by nearly 16% to C$6.81 after the company said it has secured new orders valued at C$234 million in the U.S. and Canada.
Write to Adriano Marchese at [email protected]
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