The benchmark index of the Toronto Stock Exchange remained firmly lower throughout Monday’s trading session, as investors showed concern over the recent spread of swine flu.

The S&P/TSX composite index dropped 154.68 points, or 1.6%, to close at 9,394.8 on broad-based declines.

The energy group fell 2.4% as oil futures declined. Crude oil for June delivery dropped US$1.41, or 2.7%, to end at US$50.14 a barrel on the New York Mercantile Exchange.

Shares of Nexen Inc. tumbled $1.03, or 4.3%, to $23.03 and Talisman Energy Inc. fell 2.4% to $14.53.

EnCana Corp. dipped $1.40, or 2.5%, to finish at $53.88.

Materials stocks also retreated on Monday, falling 2% as gold futures finished slightly lower. Gold for June delivery fell US$5.90, or 0.6%, to finish at US$908.20 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index fell 1.5%.

Agnico-Eagle Mines Ltd. shed 4.1% to $57.82 and Goldcorp Inc. shares gave up 2.8% to finish at $35.01.

Shares of Teck Cominco closed at $11.65, down 5.7%.

Potash Corp. fell 2.3% to $99.28.

Higher for the day were shares of Hudbay Minerals Inc., up 10.2% after news that Indian mining giant Vedanta Resources PLC had bought a 10% stake in the company. Hudbay shares added $0.77 to close at $8.35.

Financial stocks also fell 2% on Monday.

Bank of Nova Scotia declined $1.08, or 3.1%, to $34.09 and Power Financial Corp. finished at $22.95, down 4.3%.

Shares of Manulife Financial Corp. dropped 3.3% to $20.01.

Meanwhile, the Venture composite index dipped 3.83 points, or 0.4%, to close at 1,002.98 on Monday.

The Canadian dollar slipped two-thirds of a cent to close at US82.00¢.

In New York, U.S. stocks also retreated on Monday on concerns over the recent spread of swine flu.

The Dow Jones industrial average fell 51.29 points, or 0.6%, to finish at 8,025.00. It was the Dow’s first drop in three sessions.

The S&P 500 index dropped 8.72 points, or 1%, to 857.51.

The Nasdaq composite index shed 14.88 points, or 0.9%, to stand at 1,679.41.

Shares of General Motors Corp. surged more than 20% on the New York Stock Exchange after it announced a restructuring plan, elevating hopes that the automaker will be able to avoid bankruptcy. GM shares added US$0.35 to close at US$2.04.

IE