Toronto stocks ended lower Monday on profit-taking, despite a rising energy index, as the market readied itself for the U.S. Federal Reserve announcement tomorrow.

The S&P/TSX composite index finished down 32.75 points, or 0.29%, to 11,099.26.

Volume on the senior exchange was 325 million shares.

Nine of the 10 TSX main sub-groups were down, but the energy sector finished in positive territory, up 0.99%.

Light sweet crude for January delivery on the New York Mercantile Exchange rose $1.91 to settle at US$61.30 a barrel.

EnCana Corp. rose 97¢, or 1.68%, to $58.82.

The financials group was off 0.58%.

CI Financial Inc. withdrew its $285 million takeover bid for Clarington Corp., clearing the way for Industrial Alliance Insurance and Financial Services Inc. to buy the wealth-management firm.

Industrial Alliance shares rose 3¢, or 0.11%, to $28.20, CI Financial lost 40¢, or 1.57%, to $25.00 and Clarington dropped back 10¢, to 0.66%, to $14.95.

The Canadian dollar closed up 0.41 of a cent to US86.81¢.

The S&P/TSX Venture composite index nudged ahead 0.67, or 0.03%, to 2,140.37.

In New York, a big merger in the energy sector was overshadowed by a unfavorable court ruling for Merck.

The Dow Jones industrial average lost 10.81, or 0.1%, to 10,767.77, the S&P 500 index rose 1.06, or 0.08%, to 1,260.43, while the Nasdaq composite index advanced 4.22, or 0.19%, to 2,260.95.

ConocoPhillips is nearing a deal to acquire Burlington for more than US$30 billion, reported the Wall Street Journal. ConocoPhillips fell $1.82 to US$61.25, while Burlington surged $6.41 to US$82.50 US.
Dow component Merck tumbled 72¢ to US$28.41 after a mistrial was declared in the first federal case over its Vioxx painkiller.