RTTNews) – Toronto’s main index edged down Monday from its highest level in more than two years, as base metal miners and energy producers retreated.
Trading was quiet in the absence of leads from Wall Street, which remained closed for a public holiday.
The S&P/TSX Composite Index slipped 23.96 points or 0.2% to 13,440.11. The index had settled at a 28-month high on Friday.
In the base metals sector, Equinox Minerals (EQN.TO) dropped 1.7% and First Quantum Minerals (FM.TO) lost nearly 1%.
Meanwhile, shares of Nautilus Minerals (NUS.TO) surged 21% after the company secured a deep sea mining lease for its Solwara 1 gold-copper project from the Government of Papua New Guinea.
Mine development company PolyMet Mining Corp. (POM.TO) reported a third-quarter loss that narrowed to $210,000 from $841,000 a year ago. Shares ended flat at C$2.29.
Among energy stocks, EnCana (ECA.TO) trimmed 0.9%, Pacific Rubiales Energy (PRE.TO) shed 1.6% and Suncor Energy (SU.TO) moved down 0.5%. February crude contract on the New York Mercantile Exchange dropped $0.51 to $91.03 a barrel.
However, Alamos Gold (AGI.TO) slipped more than 1%. The gold producer said its Mulatos Mine in Mexico produced 156,000 ounces of gold in 2010, below the company’s guidance of 160,000 to 175,000 ounces as weather conditions during the second and third quarters resulted in production shortfalls.
Banking stocks were mixed. RBC (RY.TO) edged up 0.2%, while Scotiabank (BNS.TO) eased 0.3% and CIBC (CM.TO) gave in 0.5%.
Among IT stocks, Open Text Corp (OTC.TO) and Research In Motion (RIM.TO) added more than 1% each. CGI Group (GIB_A.TO) edged up 0.5%.
Wi-LAN Inc. (WIN.TO) gathered 4.6%. On Friday, the patent licensing firm said it struck a deal with US chip giant Intel (INTC), ending all litigations between the two companies.
by RTT Staff Writer
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