North American stocks moved lower Thursday, deepening recent losses, as investors showed continued nervousness in the aftermath of a selloff on the Shanghai exchange this week.

The Shanghai stock market fell 2.9% overnight, leading other Asian and European markets down as well.

In Toronto, the S&P/TSX composite index fell 63.89, or 0.49%, to 12,981.13. The market has dropped 423.33 over the last three sessions.

Six of the 10 TSX main sub-groups finished down.

The energy index fell 0.83%. Light, sweet crude futures gained 21¢ to $62 a barrel.
Nexen Inc. lost 38¢, or 0.57%, to $66.67.

Materials gave up 1.08%, while the gold sub-index 1.91%.

Meridian Gold Inc. lost 39¢, or 1.22%, to $31.69. Gold futures rose $7.40 to close $665.10 an ounce.

Financials dropped 0.58%.

Bank of Montreal raised its quarterly dividend 3¢ to 68¢ a common share while posting a first-quarter profit of $585 million, down 3.4% over the same period last year, after booking a $135 million restructuring charge. Bank of Montreal lost 65¢, or 0.92%, to $70.11.

The Canadian Imperial Bank of Commerce posted a first-quarter profit of $770 million, a boost of 21%. Nevertheless, CIBC shares lost 14¢, or 0.14%, to $100.52.

The junior S&P/TSX Venture composite index dropped 34.12 points, or 1.08%, to 3,137.42.

In New York, the Dow Jones industrial average lost 34.29 points, or 0.28%, to 12,234.34, the Nasdaq composite index lost 11.94, or 0.49%, to 2,404.21, and the S&P 500 dipped 3.65, or 0.26%, to 1,403.17.