Bay Street stocks dived at open Thursday amid selling across a variety of sectors, with the S&P/TSX Composite Index losing 103.99 points or 0.88 percent to 11,655.35.
In the oil patch, Niko Resources (NKO.TO) dived over 25 percent after reporting a reduction to its reserves. Encana Corp. (ECA.TO) was down close to 5 percent.
Gold stocks were extending losses amid a fall in bullion prices, with the Global Gold Index shedding 2 percent. Centerra Gold (CG.TO) lost over 7 percent, while Agnico-Eagle Mines (AEM.TO), Iamgold (IMG.TO) , Allied Nevada Gold (ANV.TO) and Goldcorp. (G.TO) were losing around 2 percent each.
Natural gas transportation company TransCanada Corp. (TRP.TO) announced that it does not endorse an unsolicited mini-tender offer by TRC Capital Corp. to buy up to 2.0 million shares of TransCanada at a price of C$40.50 per share. The stock was down 1 percent.
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