Toronto stocks lost ground Thursday, pulled lower by the energy and financials sectors, offsetting a strong day in the materials group.

The S&P/TSX composite index fell 24.93, or 0.18%, to 14,056.78.

Six of the 10 TSX main sub-groups moved lower.

The energy index fell 0.70%

Light, sweet crude futures lost 70¢ to close at US$62.79 a barrel

EnCana Corp. fell 94¢, or 1.41%, to $65.51.

The materials index gained 1.33%, while the gold sub-sector gained 2.65%.

Gold futures closed $7.90 higher to finish at US$661.00 an ounce.

Barrick Gold Corp. gained 29¢, or 0.94%, to $31.08.

Financials fell 0.70%.

Canadian Imperial Bank of Commerce fell $3.47, or 3.27%, to $102.67 after announcing a second quarter profit of $807 million, up from $585 million a year ago, a jump of 38%.

National Bank of Canada fell 97¢, or 1.47%, to $65.05 after posting a quarterly profit of $233 million, a 9% increase from a year ago profit of $214 million.

The Canadian dollar gained 0.36 of a cent to US93.48¢.

The S&P TSX Venture Exchange gained 59.87, or 1.88%, to 3,241.69.

In New York, markets were mixed as investors balanced news of lower-than-expected GDP growth against a continuing trend of mergers and acquisitions.

The Dow Jones industrial average fell 5.44, or 0.04%, to 13,627.64, the Nasdaq composite index gained 11.94, or 0.46%, to 2,604.53.

Meanwhile, the S&P500 lifted 0.39, or 0.03%, to 1,530.62, setting a fresh record.