The Toronto Stock Exchange surrendered earlier gains to finish in negative territory on Monday, pulled down by financial stocks and materials companies.

The S&P/TSX composite index shed 41.21 points, or 0.4%, to close at 10,789.97.

The sub-gold index finished down 1.8% as gold futures retreated. Gold for December delivery lost US$11, or 1.2%, to end at US$943.70 an ounce on the Comex division of the New York Mercantile Exchange.

The materials group fell 0.9%.

Shares of Barrick Gold Corp. fell 1.6% to $37.00 and Kinross Gold Corp. dipped 1.5% to $20.67.

Franco-Nevada Corp.’s stock finished at $27.07, down 3.3%.

Gainers in the group included Thompson Creek Metals Company Inc., up 2.1% to $15.80, and Inmet Mining Corp., higher by 1.5% to $47.20.

The financials group shed 0.7% on Monday, as investors cautiously prepared for quarterly earnings reports from the major Canadian banks later this week.

Shares of Bank of Montreal dropped 3.6% one day before it is set to release its financial results for the third quarter. BMO’s stock finished at $49.01, down $1.85.

Also lower was Royal Bank of Canada, down 1.1% to $50.70, and Bank of Nova Scotia, off 1% to $44.75.

Sun Life Financial Inc.’s stock fell 1.8% to $31.85.

Also sharply lower on Monday were information technology stocks, which declined by 2.3%. Shares of Research in Motion Ltd. dropped by $1.59, or 1.9%, to close at $82.15.

Meanwhile, the heavyweight energy group edged up 0.4% as oil futures climbed higher. Crude for October delivery gained 48 cents, or 0.6%, to end at US$74.37 a barrel on the New York Mercantile Exchange.

Shares of Pacific Rubiales Energy Corp. surged 4.6% to $12.97, and Niko Resources Ltd. added 1% to $73.61.

Canadian Natural Resources Ltd. gained 1.4% to close at $65.88.

Lower on Monday was Imperial Oil Ltd., off 0.7% to $39.56, and Petrobank Energy and Resources Ltd., down 0.9% to $39.93.

Junior listed companies also finished lower on Monday. The S&P/TSX Venture composite index dipped 5.59 points, or 0.5%, to close at 1,186.36.

The Canadian dollar advanced by nearly half a cent to close at US92.85¢.

In New York, U.S. stock market indexes finished mainly flat on Monday, held back by weakness among financials and consumer discretionary stocks.

The Dow Jones industrial average edged up by just 3.32 points to close at 9,509.28.

The S&P 500 index finished at 1,025.57, down by less than point.

The Nasdaq composite index slipped 2.92 points, or 0.1%, to end at 2,017.98.

IE