Toronto stocks closed down Thursday, despite setting a new intra-day high in early trading, as investors fled resources indexes on falling commodity prices, while the broader market posted gains.

The S&P/TSX composite index fell 59.52, or 0.48%, to 12,365.85.

Eight of the 10 TSX main sub-groups were up, but the energy index fell 1.93% and the materials sector was off 1.81%.

Light, sweet crude for December delivery dropped $2.50, or 4%, to US$56.26 a barrel, as investors factored in a slowing U.S. economy and good heating oil supply levels.

Petro-Canada lost 53¢, or 1.05%, to $50.18.

The gold sub-index gave up 3.50%, as he futures contract for bullion finished down $2.10 at US$621.70 an ounce.

Yamana Gold Inc. lost 53¢, or 4.09%, to $12.42.

In merger news, La Senza Corp. shares shot up $14.91, or 45.60%, to $47.61 after U.S.-based Limited Brands, owners of lingerie retailer Victoria’s Secret, offered a cash bid for the Canadian firm valued at $710 million.

The S&P TSX Venture Exchange fell 7.69, or 0.29%, to 2,617.79.

In New York, the Dow Jones hit a fresh high on lower oil prices.

The Dow Jones Industrial Average rose 54.11 points to close at 12,305.82, after posting an intra-day high of 12,325. The S&P 500 index gained 3.09 points to 1,399.76, and the Nasdaq Composite closed up 6.31 points to 2,449.06.