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Toronto Stocks Down Slightly at Midday; Cascades Inc. Shares Fall on Production Downtime

09/14/2021 | 12:21pm EDT

By Adriano Marchese

Shares in Canada fell slightly at mid-trading as consumer services and transportation stocks weighed in the session. Packaging and tissue products company Cascades Inc. saw its shares fall at midday after it said it expects production downtime for a larger-than-expected amount of containerboard due to maintenance.

Canada's S&P/TSX Composite Index slipped by 0.12% to 20642.93 while the blue-chip S&P/TSX 60 followed suit with a 0.15% decline to 1234.72.

Shares in Cascades Inc. fell 2.9% to C$15.69 after the company said it has brought forward maintenance at its Greenpac Mill in Niagara Falls, N.Y. which will temporarily reduce production of around 26,000 tons of its containerboard. With the previous maintenance schedule, the company anticipated a delay for 9,800 tons. Production is expected to return to normal in October, it said.

Other market movers:

SNC-Lavalin Group Inc. shares rose by 1.2% to C$37.69 after the company said it was appointed to deliver an advanced signaling equipment test facility in the U.K. as part of Network Rail's railway network modernization.

i-80 Gold Corp. shares rose 3.3% to C$3.25 after the company said it has begun underground test mining at its Granite Creek Mine property located in Humboldt County, Nevada and an underground test mining program is now underway.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

09-14-21 1220ET

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