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TSX Dips At Open Monday

Bay Street stocks opened lower Monday amid selling in commodities, with the S&P/TSX Composite Index shedding 67.01 points or 0.55 percent to 12,170.73.

The Global Gold Index was down nearly 1 percent, with New Gold (NGD.TO) diving over 7 percent. Goldcorp. (G.TO) slipped 1 percent after announcing that the environmental permit approval for its El Morro copper-gold project was suspended by the Supreme Court of Chile.

In the oil patch, MEG Energy was down close to 3 percent and Pacific Rubiales Energy (PRE.TO) slipped 1.50 percent.

On the other hand, Niko Resources (NKO.TO) and Petrominerales (PMG.TO) moved up around 3 percent each.

Meanwhile, McGraw-Hill Ryerson (MHR.TO) surged close to 5 percent even after reporting a wider first quarter net loss of C$2.7 million or C$1.37 per share compared to the net loss of C$2.2 million or C$1.10 per share last year.

by RTT Staff Writer

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