Toronto stocks ended flat Tuesday, as a dip in the energy sector offset gains in the materials group, fuelled by higher gold prices.

Meanwhile, U.S. stocks were down as the U.S. Federal Reserve raised its key interest rate and left it unclear when its current run of rate hikes would end.

The S&P/TSX composite index lost 1.83 points, or 0.02%, to 11,945.64.

Volume on the senior exchange was a heavy 433 million shares.

The latest hike by the U.S. central bank took its key rate to 4.5%.

The Fed meeting was the last for chairman Alan Greenspan, who is retiring after 18 years. Ben Bernanke is replacing Greenspan.

Six of the 10 TSX main sub-groups were off, with the energy sector falling 0.32%.

A barrel of light crude fell 43¢ to settle at US$67.92 on the New York Mercantile Exchange, as OPEC announced today in Vienna it would not be cutting production levels.

PetroCanada shares fell 91¢, or 1.64%, to $4.51.

The materials sector gained 1.10%, while the gold sub-sector rose 2.04%.

The futures contract for gold ended up $5.00 to US$570.80.

Kinross Gold Corp. rose 27¢, or 2.10%, to $13.10.

Statistics Canada reported that the economy advanced by 0.2% in November, the same level as October.

The Canadian dollar shot to its highest level since 1991 on Tuesday on strong commodity prices and interest-rate hike expectations.

The loonie finished at US87.80¢, up from US87.24¢ at Monday’s close.

The junior S&P/TSX Venture composite index finished up 8.14 points, or 0.32%, at 2,555.86.

In New York, stocks fell as investors rattled by the Fed’s comments that more interest-rate increases may be needed to keep inflation at bay.

The Dow Jones industrial average dropped 35.06 points , or 0.32%, to 10,864.86, the S&P500 index lost 5.12, or 0.4%, to 1,280.08, and the Nasdaq composite index slipped 0.96, or 0.04%, to 2,305.82.