Toronto stocks ended lower Thursday, after rallying during the day, as the falling energy sector dragged the market down.
The S&P/TSX composite index fell 25.82 points, or 0.22%, to 11,709.30, its lowest mark on the day, after reaching a high of 11,876.24 in earlier trading. It was the third-straight day of losses on the senior exchange.
Volume was 359 million shares.
Half of the 10 TSX main sub-groups were down, with the energy group off 2.19%.
The benchmark March contract ended up 7¢ at US$62.62 a barrel, but off a high of US$63.70. Natural gas futures fell.
EnCana Corp. fell $2.06, or 4.04%, to $48.95.
The materials sector gained 0.28%.
Kinross Gold Corp. gained 10¢, or 0.87%, to $11.65.
Gold for April delivery ended up $14.30, or 2.6% at US$566.10 an ounce.
The financials sector gained 0.87%.
Sun Life Financial reported its fourth-quarter profit increased more than 9% to $478 million. Sun Life gained 70¢, or 1.44%, to $49.22.
Manulife Financial also posted strong quarterly results. Manulife shares gained 90¢, or 1.29%, to $70.40.
Among individual stocks, Rogers Communications fell $2.69, or 5.51%, to $46.16, after the compnay reported a fourth-quarter loss that more than doubled.
The S&P/TSX Venture composite index finished up 35.01, or 1.38%, to 2,566.42.
In New York, good corporate earnings were offset somewhat by suggestions from a Federal Reserve chairman that the central bank might not be finished hiking rates.
The Dow Jones industrial average rose 24.73 points, or 0.23%, to 10,883.35, off a session high of 10,952.27. The Nasdaq composite index fell 11.11 points, or 0.49%, to 2,255.87, while the S&P 500 dipped 1.87 points to 1,263.78.
Energy stocks drag TSX lower
- By: Rudy Mezzetta
- February 9, 2006 February 9, 2006
- 17:15