Despite strong economic news, Toronto stocks declined Tuesday, as investors took profits after the market’s recent highs.

The S&P/TSX composite index shed 58.91, or 0.59%, to close at 9,939.20. In the two previous sessions, the index briefly topped the 10,000-point plateau in intra-day trading. Volume was modest at 179 million shares.

Statistics Canada said retail sales surged 1.5% in April to $30.9 billion, 8.2% higher than in April 2004. The April jump compares with a 0.2% rise in March.

Half of the 10 TSX main sub-groups were down, with the energy sector losing 2.52% and materials off 0.71%.

Light crude was down US47¢ to US$58.90 a barrel. EnCana Corp. dropped $1.48, or 2.91%, to close at $49.42.

Cognos Inc. gained $2.57, or 7.54%, to close at $36.67 in heavy trading after an upgrade by Smith Barney eased fears about the software maker’s upcoming first quarter earnings announcement. The exchange’s information technology sub-group was up 0.62%

The junior S&P/TSX venture exchange finished down 16.20, or 0.94%, to close at 1,712.79.

In New York, markets were mixed, as the dip in oil prices didn’t convince Wall Street that energy prices were stabilizing.

The blue chip Dow Jones industrial average lost 9.44, or 0.09%, to close at 10,599.67; the tech-heavy Nasdaq rose 2.94, or 0.14%, to finish at 2,091.07 and the broad based S&P 500 index fell 2.49, or 0.2%, to end at 1,213.61.