By Adriano Marchese


Toronto-listed stocks were firmly lower mid-trading Monday as investors consolidated gains from the previous week when the S&P/TSX Composite Index gained 3.4%.

Meanwhile, earlier in the morning the Bank of Canada, which has raised interest rates six times since March, warned of near zero growth for the next few quarters. Most sectors in Canada were lower in the session, with health services the main laggard, while communications was one of the few gainers. Else Nutrition Holdings Inc. shares fell after production delays at its U.S. facility forced it to cut back on product supply in the third quarter, weighing on revenue growth.

Canada's S&P/TSX Composite Index was down 0.47% to 20013.60. The blue-chip S&P/TSX 60 fell 0.42% to 1211.62.

Shares in Else Nutrition fell more than 21% to C$0.63 after it said a mechanical malfunction at its U.S. facility created a six-week delay to production that shed revenue by between 300,000 Canadian dollars ($226,269) and C$500,000 in the third quarter.


Other market movers:

Stantec Inc. shares rose 3.5% to C$68.00 after it said it has been approved by the Toronto Stock Exchange to begin a one-year buyback program to repurchase up to about 5% of its issued and outstanding shares.

Energy Fuels Inc. has agreed to sell its Alta Mesa in-situ recovery project in Texas to enCore Energy Corp. for $120 million as the company looks to focus efforts on its U.S. uranium and rare earth production. Shares were 3.2% lower at C$9.89.


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


(END) Dow Jones Newswires

11-14-22 1222ET