The benchmark index of the Toronto Stock Exchange finished lower for a second consecutive day on Wednesday, led by weakness in resource stocks.

The S&P/TSX composite index finished at 10,432.35, down 82.97 points, or 0.8%.

Oil futures finished lower for the first time in six sessions after reports that oil inventories increased last week. On the New York Mercantile Exchange, September crude futures, the new front-month contract, fell 21 cents, or 0.3%, to end at US$65.40 a barrel.

The energy group shed 1.1% on Wednesday.

Canadian Natural Resources Ltd. dropped by $1.98, or 3.2%, to $60.57 and Imperial Oil Ltd. fell 1.8% to $42.35.

Shares of Suncor Energy Inc. dipped 0.6% after the company delivered the first of the major quarterly reports from the energy sector. It reported a second-quarter net loss of $51 million, down sharply from a profit of $829 million in the second quarter of 2008. Suncor’s stock shed 20 cents to close at $36.00.

Higher for the day was Addax Petroleum Corp., which gained 2.4% after announcing that it had satisfied a condition to the previously announced takeover offer by a subsidiary of Sinopec International Petroleum Exploration and Production Corp. Addax shares added $1.19 to close at $51.29.

Materials stocks fell by 1.2% on Wednesday, despite a boost in gold futures. August gold futures rose US$6.40, or 0.7%, to end at US$953.30 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index retreated by 0.8%.

Shares of Barrick Gold Corp. fell 2% to $38.40 and Goldcorp Inc. finished off 1.3% at $41.00.

Also lower was Potash Corp., down 3.1% to $97.50, and Agrium Inc., which fell 2.1% to $44.10.

Higher for the day was Teck Resources Ltd., up 1.9% to $24.75.

The financials group finished off slightly, down 0.2%.

Shares of Bank of Montreal slipped 1.1% to $48.65 and IGM Financial Inc. retreated by 1.5% to $40.60.

Power Corp. finished at $26.81, down 1.4%.

Gainers included Sun Life Financial Inc., which added 29 cents to close at $32.99.

The junior S&P/TSX Venture composite index finished higher, gaining 8.81 points, or 0.8%, to close at 1,123.45.

The Canadian dollar advanced by US0.7¢ on Wednesday, to finish at US91.03¢.

U.S. stock markets finished with mixed results, as declines among energy producers and bank stocks offset better-than-expected earnings reports in other sectors.

The Dow Jones industrial average fell 34.68 points, or 0.4%, to end at 8,881.26.

The S&P 500 index slipped by just half a point to finish at 954.07,

The Nasdaq composite index extended its winning streak to an 11th consecutive session, edging up 10.18 points, or 0.5%, to 1,926.38 on Wednesday.

IE