TORONTO - The Toronto Stock Exchange closed in negative territory, with the gold and energy sectors losing ground despite a $7.3-billion deal between two Canadian mining companies.
The S&P/TSX composite index lost 64.7 points to 13,907.32 with a decline in the gold stocks offsetting a gain in the mining sector after the announcement of a $7.3-billion takeover deal between Barrick Gold Corp. (TSX:ABX) and base metals miner Equinox Minerals Ltd. (TSX:EQN).
The Canadian dollar lost 0.14 of a cent to 104.76 cents US after trading above 105 cents US earlier in the session.
The price of gold for June delivery rose $5.30 to a new high of US$1,509.10 an ounce on the New York Mercantile Exchange, while May copper prices fell 10 cents to US$4.30 per pound.
Crude prices lost a penny to US$112.28 a barrel after rising steadily through US$113 over the weekend.
U.S. markets were mostly lower with the Dow Jones industrial average down 26.11 points at 12,479.88. The Nasdaq 100 gained 5.72 points to 2,825.88 and the S&P 500 index was down 2.13 points at 1,335.25.
