Despite a strong boost in the materials group, the Toronto Stock Exchange finished lower on Tuesday as financial stocks retreated.

The S&P/TSX composite index fell 16.44 points, or 0.2%, to close at 10,077.70.

Financial stocks fell 1.8% during Tuesday’s trading.

Manulife Financial Corp. fell 2.8% to $22.60 and Royal Bank of Canada shed 2% to $43.29.

Also lower was Fairfax Financial Holdings Ltd., down 3.7% to $310.00, and IGM Financial Inc., down 3.2% to $38.00.

The energy group dipped 0.4% despite an increase in oil futures. Crude for June delivery ended up US$0.35, or 0.6%, at US$58.85 a barrel on the New York Mercantile Exchange.

Petro-Canada fell 2.3% to $43.92 and Suncor Energy Inc. fell 2% to $35.50.

Units of Canadian Oil Sands Trust dropped $1.22, or 4.3%, to $27.20.

Higher for the day was Niko Resources Ltd., up $4.11, or 6%, to $73.01.

The materials group was a bright spot on the TSX, jumping 4.1% as gold futures advanced. Gold for June delivery rose US$10.40, or 1.1%, to US$923.90 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index surged 4.7%.

Shares of Goldcorp Inc. soared 4.8% to $39.31 and Barrick Gold Corp. rose 3.8% to $40.62.

Kinross Gold Corp.’s stock jumped 6% to $20.25 and Agnico-Eagle Mines Ltd. gained $3.95, or 7%, to finish at $60.02.

The junior S&P/TSX Venture composite index advanced on Tuesday, gaining 15.16 points, or 1.4%, to end at 1,078.27.

The Canadian dollar gained US0.28¢ to finish the day at US86.06¢.

In New York, U.S. markets had a volatile day Tuesday, finishing with mixed results.

The Dow Jones industrial average rose 50.34 points, or 0.6%, to 8,469.11.

The S&P 500 fell 0.89 points, or 0.1%, to 908.35.

The technology-heavy Nasdaq composite dipped 15.32, or 0.88%, to end at 1,715.92.