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Commodities Drag TSX Lower At Open Thursday

Bay Street stocks opened lower Thursday amid selling in commodities, with the S&P/TSX Composite Index shedding 50.70 points or 0.41 percent to 12,385.79.

The Diversified Materials Index lost nearly 2 percent, with First Quantum Minerals (FM.TO) surrendering close to 3 percent. Inmet Mining (IMN.TO) and Teck Resources (TCK_B.TO) were down around 1 percent each.

In the oil patch, Niko Resources (NKO.TO) lost over 3 percent. Canadian Natural Resources (CNQ.TO) and Imperial Oil (IMO.TO) were down around 1 percent each.

Among gold plays, Seabridge Gold (SEA.TO) shed over 2 percent. Goldcorp. (G.TO) and Barrick Gold (ABX.TO) slipped nearly 1 percent each.

Athletic apparel maker lululemon athletica inc. (LLL.TO) lost over 1 percent despite reporting higher fourth quarter net income.

Meanwhile, smart phone maker Research In Motion (RIM.TO) gathered over 2 percent.

by RTTNews Staff Writer

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