Toronto stocks slipped Friday, as the broader market was dragged down by downward pressure on resource stocks.

The S&P/TSX composite index fell 14.15 points, or 0.12%, to 11,944.90.

Half of the 10 TSX main sub-groups were down, with the energy sector off 0.74%.

The September crude futures contract, however, closed up 35¢ at US$73.35 a barrel.

The materials sector was off 0.19%, and the gold sub-sector lost 2.54%. The December gold contract closed down $1.60 lower at US$644.40 an ounce.

Brazil’s CVRD is offering $17 billion in cash for nickel miner Inco. Vancouver-based Teck Cominco Ltd. and U.S.-based Phelps Dodge have already made separate bids for Inco. Inco moved up $2.83, or 3.28%, to $89.08.

The consumer discretionary index moved up 0.82% on acquisition news.

Fortress Investment Group LLC is bidding US$2.8 billion for resort firm Intrawest Corp. Shares shot up $8.65, or 29.04%, to $38.44.

The Canadian dollar was up 0.20 of a cent to close at US88.99¢.

The S&P/TSX Venture composite index fell 2.88 points, or 0.11%, to 2,629.36.

In New York, a stronger than expected retail report, indicating possible inflationary pressure, and the continuing uncertainty following yesterday’s discovery of a terrorist plot sent markets lower.

The Dow Jones industrial average closed down 36.34 points, or 0.33%, to 11,088.03, the S&P500 gave up 5.07, or 0.40%, to 1,266.74 and the Nasdaq composite index finished down 14.03, or 0.68%, to 2,057.71

For the week, the Dow lost 1.4%, the S&P 500 fell 1% and the Nasdaq dropped 1.3%.

The U.S. Commerce Department reported retail sales in July moved up 1.4%, after falling 0.4% in June.