Toronto stocks were down Tuesday, as gains in the energy and materials indexes were offset by losses in financials.

The S&P/TSX composite index lost 5.84 points, or 0.05%, to 11,539.93.

The index had moved up as much as 117.57 points during the session as investors bought up recently beaten-down stocks.

Six of the 10 TSX main sub-groups were down, with financials losing 0.96%.

Light, sweet crude for July delivery rose $1.80 to US$71.76.

EnCana Corp. rose 87¢ to $52.41 but Petro-Canada gave up earlier gains to lose 52¢ to $47.43.

The futures contract for gold moved up $16 to $673.70 an ounce.

Barrick Gold Corp. gained 60¢ to $34.80 while Silver Wheaton Corp. climbed 65¢ to $9.70.

Northgate Minerals Corp. said it will make a stock-swap offer for Aurizon Mines Ltd. that values the targeted gold mining company at $435 million. Northgate shares dipped 10¢ to $3.95 while Aurizon jumped 88¢ to $3.18.

The Canadian dollar was down 0.06 of a cent to US89.17¢ ahead of Wednesday’s announcement on interest rates. Many analysts believe the central bank will hike its key rate another quarter-point before calling a halt.

The S&P/TSX Venture composite index shot up 54.29 points, or 1.96%, to 2,825.02 after suffering significant losses since May 9.

In New York, the Dow Jones industrial index fell 26.98 to 11,098.35, the Nasdaq fell 14.10 to 2,158.76, while the S&P 500 slid 5.49 to 1,256.58.