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TSX Dips At Open Monday

5/7/2012 9:55 AM ET

Bay Street stocks dipped at open Monday amid selling in energy and base-metals stocks, with the S&P/TSX Composite Index shedding 63.74 points or 0.54 percent to 11,807.49.

The Diversified Materials Index was down nearly 2 percent, with Inmet Mining (IMN.TO) losing over 3 percent. Teck Resources (TCK_B.TO) and First Quantum Minerals (FM.TO) shed close to 2 percent each.

In the oil patch, Niko Resources (NKO.TO) lost over 5 percent. TransGlobe Energy (TGL.TO) surrendered close to 3 percent despite posting a much improved first-quarter net earnings.

Bonterra Energy (BNE.TO), MEG Energy (MEG.TO) and Petrobakken Energy (PBN.TO) were down close to 2 percent each.

Meanwhile, gold stocks were trading steady, with Agnico-Eagle Mines (AEM.TO) and Alamos Gold Inc. (AGI.TO) adding nearly 1 percent each.

by RTT Staff Writer

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