Toronto stocks dropped Thursday, as falling oil prices led to a sell-off in energy stocks, but mining companies, on higher metals prices, continued to post gains.

The S&P/TSX composite index was down 70.28, or 0.58%, to 12,125.87.

The energy sector lost 1.84% as Crude for June delivery moved down $2.34, or 3.2% at $69.94 a barrel.

Canadian Natural Resources reported a first-quarter profit of $57 million, compared to a loss of $424 million in the same period last year. The firm’s shares fell $1.92, or 2.84%, to $65.77.

The materials sector, meanwhile, gained 2.06%. The benchmark June contract for bullion ended up $8 at US$676.50 an ounce.

Barrick Gold Corp.’s first-quarter profit rose to US$224 million, from year-ago US$66 million. Barrick gained $2.16, or 6.28%, to $36.56.

The financials sector lost 1.39%.

Manulife Financial Corp. announced a first quarter profit of $956 million. It also announced a two for one stock split. Manulife shares fell $1.87, or 2.59%, to $70.35.

The Canadian dollar settled at US90.35¢ US, rising 0.11 of a cent.

The S&P/TSX Venture Exchange index gained 23.06, or 0.74%, to 3,137.74.

In New York, markets were higher on lower oil prices.

The Dow industrials rose 38.58 points to 11,438.86, the Nasdaq Composite Index was up 19.93 points at 2,323.90 and the S&P 500 Index ticked forward 4.40 points to 1,312.25.