Toronto's main stock index falls as energy sector slumps

TORONTO – The Toronto Stock Exchange closed in the red, snapping an 11-day streak of gains.

The S&P/TSX composite index shed 17.52 points to close at 16,144.79, dragged down by the energy sector on reports OPEC may be looking to raise oil production soon.

In New York, the Dow Jones industrial average fell 178.88 points to 24,834.41. The S&P 500 index fell 8.57 points to 2,724.44 and the Nasdaq composite index retreated 15.58 points to 7,378.46.

The Canadian dollar averaged 78.21 cents US, up 0.57 of a U.S. cent.

The July crude contract fell 15 cents to US$72.20 per barrel and the June natural gas contract gained about 10 cents to roughly US$2.91 per mmBTU.

The June gold contract rose US$1.10 to US$1,292 an ounce and the July copper contract advanced roughly three cents to about US$3.13 per pound.