By Adriano Marchese
Toronto-listed stocks were moderately lower as the narrative of rising interest rates to combat global inflation continues to dominate headlines. In Canada, focus remains on rising food and rent prices.
Most sectors were lower, with technology and technology services the leading laggards.
Canada's S&P/TSX Composite Index was down 0.62% at 19065.16 and the blue-chip S&P/TSX 60 fell by 0.44% to 1155.41.
Shares of Cascades Inc. traded lower after the company said it had to shut down one of two tissue paper machines at its Oregon facility after an annual inspection found issues with the structural condition of the building it is housed in.
Cascades Inc. shares fell 7.7% to C$8.57 on Wednesday after markets closed and it determined additional verification of the structural condition of the building at its St. Helens facility was necessary.
Other market movers:
Stock in Converge Technology Solutions Corp. rose 3.8% to C$6.26 after announcing it acquired U.K.-based information- and communication-technologies company Stone Technologies Group Ltd., as Converge continues to enlarge its European footprint.
Sierra Metals Inc. shares fell 7.3% to C$0.64 after it said it had to suspend its operations at its mine in Peru after locals blocked access to the site.
Shares of Electra Battery Materials Corp. were 16% higher at C$4.58 after it said it has agreed to supply battery-grade cobalt to LG Energy Solution Ltd., an important component in lithium-ion batteries used in electric vehicles.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
09-22-22 1229ET
