The benchmark index of the Toronto Stock Exchange posted a small loss Thursday as higher bank stocks offset declines in energy and mining shares.

Toronto’s S&P/TSX composite index slipped 18.31 points to 13,358.91.

The Toronto energy sector led the way lower, down 1.25% after jumping 4% Wednesday.

The September crude price on the New York Mercantile Exchange dropped 99¢ to US$115.01 a barrel.

In Toronto, EnCana Corp. fell $1.30 to $73.10 and Canadian Natural Resources dropped back $1.72 to $82.82.

Nexen Inc.shares were off 99¢ to $30.96 as the oil and gas company announced a discovery at the Blackbird well in the U.K. North Sea. Nexen has an 80% working interest in the well.

The TSX financial group rose 1.5%. Royal Bank gained $1.05 to $47.20 and TD Bank was ahead $1.07 to $62.94.

The base metals sector was down 1.5% after jumping about 6% Wednesday.

Shares in uranium miner Cameco Corp. were ahead 43¢ to $33.32 as it announced that revenue fell to $620 million in the second quarter, down from $725 million a year earlier.

The gold sector was down 5.25% as the December bullion contract declined US$17 to US$814.50 an ounce. Barrick Gold Corp. was down $1.95 to $35.65.

Among individual equities, Sleep Country units were up $5.82 or 36% to $21.87.

Two Canadian investment firms — Birch Hill Equity Partners Management and Westerkirk Capital — have offered to the company in a deal valued at $356 million, or $22 a unit.

The S&P/TSX Venture composite index slipped 5.71 points to 1,991.18, while the Canadian dollar was off 0.07 cents at US94.05¢.

In New York, markets started off the session weak following the release of data showing much higher-than-expected inflation during July but ended higher as investors also bought up U.S. financial stocks and took in a solid earnings report from Wal-Mart Stores.

New York’s Dow Jones industrial average finished the session up 82.97 points at 11,615.93.

The Nasdaq composite index moved up 25.05 points to 2,453.67, while the S&P 500 index gained 7.1 points to 1,292.93.

The U.S. Labour Department reported a 0.8% rise in July’s Consumer Price Index, double the increase expected, pushed higher by surging energy and food costs. The latest surge left inflation running at the fastest pace in 17 years.