Toronto stocks snapped a three-day winning streak to end marginally lower on Tuesday, as a drop in energy and materials issues offset strength in BCE.

The S&P/TSX composite index closed down 2.03 points, or 0.01%, at 13,657.95, after hitting a record high of 13,711.95 earlier in the day.

Four of the 10 main TSX groups were lower, led by a 0.7% drop by both the resource-laden materials group and the heavyweight energy sector.

Energy shares fell as the price of U.S. crude dropped 51¢ to US$63.10 a barrel as a major Nigerian oil field was expected to restart after being shuttered for more than a year, and ahead of U.S. government inventory data expected on Wednesday.

Suncor Energy dropped $1.11, or 1.2%, to $91.57, while EnCana fell 79¢, or 1.3%, to $60.75.

Shares of mining companies also fell, largely due to a slump in gold prices. Barrick Gold shed 18¢, or 0.5%, to $33.38.

The telecoms group was up 4.1% on the back of BCE.

BCE shares rose $2.34, or 6.5%, to $38.60 after it said it was in talks with Kohlberg Kravis Roberts and three big Canadian pension funds that could lead to BCE’s privatization.

The news boosted other telecom issues, with Telus up $1.92, or 3.1%, at $64.57 and Rogers Communications ahead $1.45, or 3.6%, at $42.18.

The junior S&P/TSX Venture composite index gave back 14.87 points to 3,334.86.

The Canadian dollar rose 0.06 of a cent to US88.47¢.

In New York, the Dow Jones industrial average ended just short of a new record high, helped by better-than-expected profits at companies such as Johnson & Johnson and data showing tamer inflation.

The Dow rose 52.58 points, or 0.41%, to end at 12,773.04. The S&P 500 added 3.01 points, or 0.20%, to finish at 1,471.48.

The tech-heavy Nasdaq composite index slipped 1.38 points, or 0.05%, to 2,516.95.