Toronto stocks opened sharply lower Monday amid selling across a variety of sectors, with the S&P/TSX Composite Index shedding 133.59 points or 1.15 percent to $11,489.32.
The Diversified Materials Index lost nearly 4 percent, with First Quantum Minerals (FM.TO) losing 5 percent. Inmet Mining (IMN.TO) and Teck Resources (TCK_B.TO) were down around 3 percent each.
In the oil patch, Suncor Energy (SU.TO) and ARC Resources (ARX.TO) surrendered around 3 percent each.
Building construction company Churchill Corp. (CUQ.TO) dived about 15 percent after reporting preliminary estimates for 2012 second quarter revenue.
Meanwhile, Nexen Inc. (NXY.TO) jumped over 50 percent to C$26.62 after announcing that it would be acquired by CNOOC for $27.50 per share in cash.
Talisman Energy (TLM.TO) rose 10 percent after it said it would divest a 49 percent equity interest in Talisman's UK North Sea business, Talisman Energy (UK) Ltd. to Sinopec International Petroleum Exploration and Production Corp. for $1.5 billion.
by RTT Staff Writer
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