TSX Ends Lower On Weak Oils - Canadian Commentary

(RTTNews) - The Toronto Stock Exchange's benchmark index closed lower for the second straight session on Monday, as losses in energy stocks more than offset modest gains in financial and other stocks.

Trading was light, as the U.S. stock markets were closed for the Memorial Day holiday.

Light sweet crude for July delivery rose $0.08 to $59.80 a barrel in electronics trading on the New York Mercantile Exchange.

The S&P/TSX composite index closed down 13.36 points, or 0.09%, at 15,195.11, with intra-day low of 15,172.15 and a high of 15,205.34.

Among energy stocks, Enbridge Inc. (ENB.TO) fell 2.08%, while RMP Energy Inc. (RMP.TO) slipped 2.40% and Bellatrix Exploration Ltd. (BXE.TO) dropped 3.17%.

Cenovus Energy Inc. (CVE) lost 1.78% after the integrated oil company said it has safely evacuated all staff from its Foster Creek oil sands and Athabasca natural gas operations and shut down production as a precaution due to a forest fire on the Cold Lake Air Weapons Range in northeastern Alberta.

Among financial stocks, Brookfield Asset Management Inc. (BAM_A.TO) rose 0.97% and Sun Life Financial Inc. (SLF.TO) gained 0.67%.

Elsewhere, Barrick Gold Corp. (ABX.TO) gained 0.07%. The company said Sunday that it has reached an agreement to sell 100% of the Cowal mine in New South Wales, Australia to Evolution Mining for US$550 million in cash.