The Toronto Stock Exchange finished a wild month by shedding more value, as further hits to commodity prices put the month of October into the record books for sizable losses.

The S&P/TSX composite index fell 93.45 points, or 0.95% to close at 9,762.76.

The benchmark was up 5 percent on the week, but in October it fell 16.9 percent, its biggest monthly decline since August 1998.

The materials group tumbled 5% after gold futures fell and posted their largest monthly loss in 25 years. Gold for December delivery closed down US$20.30 at US$718.20 an ounce on the Comex division of the New York Mercantile Exchange. For the month of October it shed 18% — its biggest percentage loss since February 1983.

The sub-gold index dropped a hefty 6.87%.

Goldcorp Inc. shares dipped 8.1% after the company reported that third quarter core earnings missed analyst expectations. Excluding a significant gain on future tax liabilities, core earnings fell to US$64.7 million from US$82.3 million in the same period last year. Goldcorp shares closed at $22.54.

Also lower were shares of Barrick Gold Corp., down 7.76% to $27.56 and Agnico-Eagle Mines, down 6.1% to $33.26.

Meanwhile, crude for December delivery climbed US$1.85, or 2.8% to close at US$67.81 per barrel on the New York Mercantile Exchange, and rose 5.7% for the week. But despite the week’s gains, October marked the largest monthly decline on record for oil, with a 32.6% plunge throughout the month.

A combination of gains and losses among oil and gas companies sent the energy group on the TSX down a slight 0.48%.

Within the group, shares of EnCana Corp. fell 2.3% to $61.23 and Canadian Natural Resources Ltd. dipped 2.4% to $60.82. Petro-Canada’s stock rose 2.55% to finish the day at $30.14.

The financials group was down 1.18%, featuring another mixed bag of gains and losses.

Shares of Fairfax Financial Holdings Ltd. rose 3.12% after the company announced Thursday that net earnings in the third quarter rose to $467.6 million—an 84.7% increase from the same period in 2007. Fairfax shares closed at $331.00.

CIBC shares slipped 2.4% to end at $54.66 and Royal Bank of Canada shares shed 1.56% to close at $46.84.

The junior S&P/TSX Venture index rose 35.55 points, or 4%, to close at 915.30.

The Canadian dollar gained nearly a cent against the American dollar, closing at US83.02¢.

Meanwhile in New York, another day of stock market gains helped the main indexes post gains for the week, but didn’t do much to improve the month’s dismal performance.

The Dow Jones industrial average rose 144.32 points, or 1.6%, to close at 9,325.01. It was up 11.3% for the week, but down 14.1% for the month of October.

The Nasdaq composite gained 22.43 points, or 1.3%, to close at 1,720.95 — up 10.9% this week, but down 17.7% in October.

The S&P 500 index rose 14.66 points, or 1.5%, to end the day at 968.75. It finished up 10.5% for the week, and down 17% for the month — the largest monthly drop since 1987.