Shares of Metro and Jean Coutu halted

Regulators suspended trading of pharmacy retailer Jean Coutu and grocery chain Metro this morning.

The Investment Industry Regulatory organization of Canada said at 9:29 a.m. it was putting a temporary halt to trading in Jean Coutu, and suspended Metro trading six minutes later.

Jean Coutu has has more than 400 stores in Quebec, New Brunswick and Ontario.

Metro has more than 600 stores in Quebec and Ontario.

The self-regulatory agency can decide to temporarily suspend trading of a security of a publicly-listed company to ensure a fair and orderly market.

In 2013, grocery giant Loblaws Companies Ltd.announced its purchase of pharmacy chain Shoppers Drug Mart for $12.4 billion.

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