TORONTO (Reuters) - With the Toronto Stock Exchange closed yesterday because of technical problems, shares of some interlisted Canadian companies saw mixed action south of the border.

EnCana Corp, Canada's No.1 oil and gas producer, dropped 3.03 percent to $46.36 as oil fell $3.54 to settle at $40.06 a barrel, after earlier dipping below $40 for the first time since July 2004.

The Organisation of the Petroleum Exporting Countries (OPEC) agreed to cut 2.2 million barrels a day of output starting on January 1, the biggest single reduction on record.

But oil prices dropped as dealers said the OPEC cuts did not go far enough to offset slumping world demand and prop up retreating prices..

"The Street fully anticipated the OPEC cut so there was no positive surprise and (prices) had already run up in advance of the OPEC cut," said Lex Kerkovius, senior research analyst at McLean & Partners Wealth Management Ltd. in Calgary, Alberta.

"I think there's a bigger message there. You need to be more proactive rather than reactive. At this point, the market's displeasure is that OPEC is strictly reacting to demand but not really getting ahead here."

Nexen Inc. fell 3.7 percent to $17.93. It said yesterday it would acquire a majority interest in its Long Lake oil sands project, buying up the stake held by joint-venture partner Opti Canada Inc. for C$735 million.

Barrick Gold Corp. rose 1.7 percent to $35.49 as gold rose to its highest level in two months and the US dollar retreated against major currencies. Earlier yesterday, the company lowered its estimates of damage at its North Mara mine in Tanzania after it was attacked by protesters last week.

Goldcorp fell 3.3 percent to $30.62.

In financials, Manulife Financial dropped 3.6 percent to $17, while Toronto-Dominion Bank fell 3.2 percent to $33.47. Financial issues worldwide were hit by more worries about fallout from the credit crisis as optimism faded over the US Federal Reserve's rate cut to near zero on Tuesday.

Fertiliser producer Potash Corp. of Saskatchewan Inc. rose 4.2 percent to $80.10, while competitor Agrium Inc. was down 0.8 percent at $34.26.