Sliding technology shares led Toronto stocks closed lower Thursday. The S&P/TSX composite index fell 29.82 points to finish at 6,620.77.

Investors shrugged off news that the Conference Board of Canada’s index of consumer confidence increased 6.6 points to 121.9 in April.

The information technology sector slipped 2.7% after a 6% rise in the past month, while the gold index jumped 2.9%.

Tech shares were led lower by Nortel Networks, which slipped 20¢, or 5%, to $3.76 after rising 9% in the past month.

Gold-mining shares outperformed the broader index as New York gold prices rose steadily.

Barrick Gold shares rose $1.04 to $23.46, while Placer Dome rose 49¢ to $14.94.

In earnings news, Encana fell 10¢ to $47.49, despite reporting a first-quarter profit that beat easily beat analyst expectations.

Four Seasons Hotels lost $9.3 million in the first quarter, compared with a year-earlier profit of $7.7 million. Revenue sagged to $61 million from $64.6 million as the company felt the effect of a downturn in world travel brought on by war and SARS fears. Its shares dropped 82¢ to $47.30.

Quebecor shares dipped 14¢ to $14.51 after first-quarter earnings of $12.5 million, down from $23.4 million.

Shares in Magna International were $1.66 higher at $86.66 after it reported higher quarterly profits and sales while trimming its forecast for North American vehicle production this year by 200,000 units to 15.8 million.

Toronto volume was 212.6 million shares worth $2.39 billion. Decliners beat advancers 561 to 505, with 217 unchanged.

The S&P/TSX Venture Composite Index closed up 3.19 points at 1064.18

Trading was active on a volume of 33.1 million shares worth $15.7 million, with 203 advances, 219 declines and 446 issues unchanged.

In New York, sluggish U.S. retail sales gave investors more incentive to cash in profits, and send stocks lower for a second consecutive session.

Department stores Wal-Mart, Target, Sears Roebuck and J.C. Penney all missed expectations.

The Dow Jones industrial average closed down 69.41, at 8,491.22, having lost 27.73 on Wednesday.

The Nasdaq composite index fell 17.07 to 1,489.69. The S&P 500 declined 9.35 to 920.27.

The Canadian dollar resumed its upward trend against the U.S. dollar. The loonie closed at US71.85¢ cents, up from US71.56¢ cents at Wendesday’s close.