Toronto stocks retreated Wednesday, as lower crude oil prices led to a drop in the energy sector.

The S&P/TSX composite index fell 78.31, or 0.64%, to 12,196.15.

Half of the 10 TSX main sub-groups were down, with the energy index shedding 1.36%.

June for crude delivery fell $2.33, or 3.1% to $72.28 a barrel on news of higher-than-expected U.S. crude inventory.

Nexen Inc. lost $1.04, or 1.57%, to $65.00.

The gold sector, a sub-set of the materials index, dropped 1.33% even as gold futures lifted.

Bullion for next month delivery gained $1.10 to close at $668.50 an ounce, extending a 25-year record high.

The information technology sector gained 1.61%. Nortel Networks added 14¢, or 4.84%, to $3.03.

The Canadian dollar moved lower by 0.14 of a cent to end at US90.24¢.

The S&P/TSX Venture Exchange index fell 25.64, or 0.82%, to 3,114.68.

In New York, markets were cheered by lower oil prices, but concern remained about the prospect of further rate hikes from the U.S. Federal Reserve.

The Dow Jones Industrial Average was down 16.17 points at 11,400.28, the Nasdaq Composite Index fell 5.87 points to 2,303.97. The S&P 500 Index dropped 5.36 points at 1,307.85.
TSX drops modestly

Oil prices fall more than 3%


Toronto stocks retreated Wednesday, as lower crude oil prices led to a drop in the energy sector.

The S&P/TSX composite index fell 78.31, or 0.64%, to 12,196.15.

Half of the 10 TSX main sub-groups were down, with the energy index shedding 1.36%.

June for crude delivery fell $2.33, or 3.1% to $72.28 a barrel on news of higher-than-expected U.S. crude inventory.

Nexen Inc. lost $1.04, or 1.57%, to $65.00.

The gold sector, a sub-set of the materials index, dropped 1.33% even as gold futures lifted.

Bullion for next month delivery gained $1.10 to close at $668.50 an ounce, extending a 25-year record high.

The information technology sector gained 1.61%. Nortel Networks added 14¢, or 4.84%, to $3.03.

The Canadian dollar moved lower by 0.14 of a cent to end at US90.24¢.

The S&P/TSX Venture Exchange index fell 25.64, or 0.82%, to 3,114.68.

In New York, markets were cheered by lower oil prices, but concern remained about the prospect of further rate hikes from the U.S. Federal Reserve.

The Dow Jones Industrial Average was down 16.17 points at 11,400.28, the Nasdaq Composite Index fell 5.87 points to 2,303.97. The S&P 500 Index dropped 5.36 points at 1,307.85.