Toronto stocks pared early losses but still ended lower on Thursday, as falling commodity prices dragged down resource issues.

The S&P/TSX composite index fell 103.47 points, or 0.74%, to. 13,966.33, with four of its 10 main sectors pointing lower.

The heavy-weight energy sector gave up 3.2%, as oil settled down US$2.24 at US$116.06 a barrel on the New York Mercantile Exchange, putting it further away from its recent record peak of near US$120.

Canadian Natural Resources (fell $3.96, or 4.5%, to $83.25.

Suncor Energy slid $1.72, or 1.5%, to $114.28 after it posted an increase in profit, but cut its production target for the year as oil sands output fell behind expectations.

The materials sector, home to resource shares, shed 3.5%.

Shares of Potash Corp of Saskatchewan dropped $9.60, or 4.7%, at $196.90. even though the fertilizer company reported that its first-quarter profit nearly tripled and raised its expectations for the rest of the year due to surging fertilizer demand and prices.

The gold subindex slumped 4.1% along with declines in the price of gold.

Goldcorp shares fell $2.22, or 5.7%, to $36.75, and Kinross Gold dropped $1.64, or 7.7%, to $19.65.

Tech companies led the upside gaining 3.3%. Research In Motion rose $3.09, or 2.5%, to $125.77, and Celestica shares climbed after it returned to first-quarter profit and improved its forecast. Celestica jumped $2.30, or 34.6%, to $8.95,

The influential financials group climbed 2.3%. Toronto-Dominion Bank was up $1.98, or 3.1%, at $65.93 and CIBC jumped $2.95, or 4.3%, to $71.35.

The junior S&P/TSX Venture composite index fell 37.82 points, or 1.5%, to 2,479.10.

The Canadian dollar moved up 0.3 of a cent to US98.6¢.

In New York, U.S. stocks rose after Merrill Lynch & Co., a signal that strains on bank finances have eased.

Ford Motor Co.’s unexpected return to profit for the first time in three quarters also offered hope for U.S. manufacturing amid the economic slowdown.

The Dow Jones industrial average gained 85.73 points, or 0.67%, to end at 12,848.95. The S&P 500 rose 8.89 points, or 0.64%, to 1,388.82. The Nasdaq composite index gained 23.71 points, or 0.99%, to 2,428.92.