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TSX Dips At Open Friday

Bay Street stocks dipped at open Friday amid selling in energy stocks, with the S&P/TSX Composite Index losing 75.19 points or 0.63 percent to 11,939.71.

The Energy Index shed nearly 2 percent, with Niko Resources (NKO.TO) losing over 4 percent. Suncor Energy (SU.TO) and Cenovus Energy (CVE.TO) lost around 2 percent each.

Canadian Natural Resources (CNQ.TO) was down over 3 percent even after reporting that its first-quarter net earnings were C$427 million or C$0.39 per share up from C$46 million or C$0.04 per share for the first quarter of 2011

The Diversified Materials Index lost over 1 percent, with First Quantum Minerals (FM.TO) surrendering close to 2 percent.

Meanwhile, gold stocks were firm, with Agnico-Eagle Mines (AEM.TO) ad Goldcorp. (G.TO) adding around 2 percent each.

Diversified services company K-Bro Linen Inc. (KBL.TO) gained 3 percent after reporting improved first quarter net income.

by RTTNews Staff Writer

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