The Toronto Stock Exchange finished lower on Tuesday for the first session in seven, despite a sunnier economic outlook released by the Bank of Canada.

The S&P/TSX composite index fell 25.39 points, or 0.2%, to close at 10,515.32.

The materials group dropped 1.2% as gold and other commodity prices retreated. August gold futures slid US$1.90, or 0.2%, to end at US$946.90 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index finished down 1.3%.

Agnico-Eagle Mines Ltd. fell $1.31, or 2.1%, to $62.68, and Inmet Mining Corp. finished at $44.55, down $1.30, or 2.8%.

Shares of First Quantum Minerals Ltd. plummeted 7.9% after finishing with a hefty gain on Monday. The stock closed at $64.15 on Tuesday, down $5.49.

Higher for the day was Thompson Creek Metals Company Inc., up 5.4% to $14.80.

The energy group fell 0.4% despite a boost in oil futures. Crude for August delivery, which expired on Tuesday, gained 74 cents, or 1.2%, to end at US$64.72 a barrel on the New York Mercantile Exchange.

Shares of Canadian Natural Resources Ltd. plunged $2.65, or 4.1%, to $62.55.

Husky Energy Inc, finished at $31.80, down 1.8%.

Gainers included Suncor Energy Inc., up 2.9% to $36.20, and Petro-Canada, higher by 2.8% to $46.15.

Financial stocks finished flat on Tuesday.

Lower for the day was Toronto-Dominion Bank, down 1.1% to $59.81, and Bank of Montreal, off 32 cents to close at $49.18.

Finishing higher was Fairfax Financial Holdings Ltd., up 3.8% to $298.00, and Manulife Financial Corp., up 1.3% to $22.72.

Industrial stocks were a bright spot on the TSX on Tuesday, advancing 2.1%.

Canadian National Railway Company saw its stock jump 2.1% after announcing that it sees signs of market stabilization, and expects volumes to accelerate in the second half of the year as the North American economy recovers. CN shares gained $1.06 to close at $50.55.

The junior S&P/TSX Venture index slipped lower on Tuesday, shedding 3.45 points, or 0.3%, to close at 1,114.64.

The Canadian dollar slipped a fraction of a cent to close at US90.33¢.

In New York, U.S. stocks failed to hold onto strong gains earlier in the day, but still finished in positive territory.

The Dow Jones industrial average added 67.79 points, or 0.8%, to 8,915.94. The seventh consecutive gain marks the blue-chip average’s longest rally in two years.

The S&P 500 index rose 3.45 points, or 0.4%, to close at 954.58.

The Nasdaq composite index advanced 6.91 points, or 0.4%, to end at 1,916.20.

IE