TSX Dives At Open Monday

5/14/2012 9:55 AM ET

Bay Street stocks suffered steep losses at open Monday amid widespread sell-offs, with the S&P/TSX Composite Index diving 167.82 points or 1.44 percent to 11,526.85.

The Diversified Materials Index lost close to 3 percent, with Inmet Mining (IMN.TO) and First Quantum Minerals (FM.TO) shedding close to 4 percent each. Teck Resources (TCK_B.TO) was down 2 percent.

Base-metals miner Imperial Metals (III.TO) surrendered close to 5 percent after reporting a lower first-quarter net earnings.

In the oil patch, Suncor Energy (SU.TO) and Baytex Energy Corp. (BTE.TO) were down around 3 percent each.

Among gold plays, Goldcorp. (G.TO), Allied Nevada Gold (ANV.TO) and Agnico-Eagle Mines (AEM.TO) were down over 2 percent each.

Silver Wheaton Corp. (SLW.TO) slipped over 3 percent despite posting improved first quarter net earnings.

by RTT Staff Writer

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