Toronto stocks retreated Tuesday, as losses in the resource sector led the market lower, even as investors absorbed news of major acquisitions by two Canadian banks.

The S&P/TSX composite index fell 47.85 points, or 0.34%, to 14,152.73.

Six of the 10 TSX main sub-groups were up.

The financials group fell 0.29%.

Toronto-Dominion Bank fell $3.79, or 4.97%, to $72.54 after it said it was buying New Jersey-based Commerce Bancorp Inc for US$8.5 billion, a deal which would effectively double TD’s size in the United States.

Royal Bank of Canada shares gained 60¢, or 1.07%, to $56.53 after the bank announced it was purchasing Caribbean bank RBTT Financial Group for a total of about US$2.2 billion.

The energy index fell 0.29%.

Light, sweet crude for November delivery fell 19¢ to close at US$80.05 a barrel.

Petro-Canada fell 86¢, or 1.52%, to $55.74.

The materials index fell 1.62%, while the gold sub-sector gave up 3.17%.

Iamgold Corp. fell 19¢, or 2.21%, to $8.41.

Gold futures for December fell $17.80, or 2.4%, to close at US$730.80 an ounce.

The S&P/TSX Venture composite index lost 29.26 points, or 1.02%, to 2,843.40.

The Canadian dollar closed down 0.63 of a cent to US100.24¢ on renewed strength of the U.S. dollar.

In New York, markets were mixed as negative housing reports tamped down investor enthusiasm.

The Dow Jones industrial average fell 40.24 points, or 0.29%, to 14,047.31, the Nasdaq composite index gained 6.12, or 0.22%, to 2,747.11, and the S&P 500 fell 0.41, or 0.03%, to 1,546.63.