Toronto stocks ended lower Tuesday weighed down by concerns over new highs for oil prices and their impact on the economy. At the close, the S&P/TSX composite index was down 15.86 points, or 0.18%, at 8,797.05 on volume of 259.6 million shares.

Oil prices rose to record levels, breaking through the US$51 a barrel level on supply concerns. Oil futures settled at US$51.09 in New York.

The Canadian dollar closed above the US79¢ level Tuesday as the rising price of crude strengthened the loonie on international currency markets.

The loonie finished up 0.70 of a cent at US79.27¢. That’s the highest close for the Canadian dollar in more than 11 years.

In Toronto, only two of the TSX index’s 10 subgroups posted gains, with techs sliding 1.62% after the previous session’s 3.65% gain.

Nortel Networks fell 13¢, or 2.61%, to $4.47, but Celestica was ahead 14¢, or 0.82%, to $17.14.

The heavily weighted financial sector slipped 0.31%. TD Bank, the day’s most active issue, gained 4¢ to $47.05.

However, Royal Bank of Canada fell 37¢ to $59.88, and Bank of Nova Scotia shed 13¢ to $37.25.

On the upside, the energy sector gained 1.44%.

EnCana rose $1, or 1.67%, to $60.80 and Suncor was up $1.46, or 3.59% to $42.16.

Suncor, Enbridge Inc. and Spanish-owned EHN Wind Power Canada said Tuesday they have jointly submitted a proposal to the Ontario government to build a 75-megawatt wind power project near Ripley, Ont., east of Lake Huron.

Among individual stocks, Barrick Gold won its appeal of a multimillion-dollar tax assessment in Peru. Barrick shares rose 49¢, or 1.83%, to $27.31.

Trade regulators in the United States on Tuesday cleared the way for the merger of beer makers Molson Inc. and Adolph Coors Co.

Shareholders of Molson will be voting on the merger proposal with Coors during the week of Dec. 13. Molson Class A shares slipped 10¢ to $31.70.

The junior S&P/TSX Venture composite index rose 16.51 points or 1.01% to 1,658.91.

On Wall Street, stocks lost ground Tuesday on concern over the economic impact of high oil prices.

The Dow Jones industrial average dropped 38.86 points or 0.38% to close at 10,177.68.

The tech-heavy Nasdaq composite index gained 3.10 or 0.16% to 1,955.50. The S&P 500 slipped 0.69 of a point to 1,134.48.

Adding to investors’ worries was a disappointing report from the Institute for Supply Management, which said its service sector index fell to 56.7 in September from 58.2 in August. The reading was lower than the 59 expected by Wall Street. A figure over 50 represents expansion in the service sector, but the latest number represented a slowdown in growth.