Bay Street stocks opened lower Thursday amid selling across a variety of sectors, with the S&P/TSX Composite Index shedding 40.17 points or 0.35 percent to 11,370.77.
The Diversified Materials Index lost nearly 1 percent, with First Quantum Minerals (FM.TO) and Teck Resources (TCK_B.TO) slipping around 1 percent each.
In the oil patch, Tahoe Resources (THO.TO) dived nearly 20 percent, while Niko Resources (NKO.TO) was adding 2 percent even after slipping into the red in fourth quarter. Celtic Exploration (CLT.TO) soared over 11 percent.
Among financial stocks, TD Bank (TD.TO), Scotiabank (BNS.TO) and Royal Bank (RY.TO) surrendered around 1 percent each.
Meanwhile, Progress Energy Resources Corp. (PRQ.TO) skyrocketed 75 percent after announcing that it would be acquired by PETRONAS' Canadian subsidiary, PETRONAS Carigali Canada Ltd at a cash price of C$20.45 per share.
by RTT Staff Writer
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