(RTTNews) - Bay Street stocks extended this week's steep losses at the open Thursday amid selling across a variety of sectors. The S&P/TSX Composite Index was down 60.84 points or 0.53% to 11,521.37.
The Energy Index lost 1.27%, with a host of stocks including Cenovus Energy (CVE.TO), Crew Energy (CR.TO) and Encana Corp (ECA.TO) slipping over 1% each.
Oil and gas producer Baytex Energy Trust (BTE_UN.TO), which reported higher second quarter funds from operations, lost 0.95%.
The Diversified Metals Index was down 1.83%. First Quantum Minerals (FM.TO), Teck Resources (TCK_B.TO) and Inmet Mining (IMN.TO) were down over 1% each.
Base metals miner Quadra FNX Mining (QUX.TO) surrendered close to 5%, despite turning to profit in second quarter.
In the financial space, Bank of Montreal (BMO.TO) gave in 1.06% and Canadian Western Bank (CWB.TO) shed 1.71%.
Meanwhile, gold stocks were moving higher tracking gains in the price of the gold, which moved up to its 4-week high.
Agnico-Eagle Mines (AEM.TO), Eldorado Gold (ELD.TO) and Goldcorp (G.TO) surged over 2% each.
Restaurants operator Tim Hortons Inc. (THI.TO: News ) moved up 1.69% after reporting a 21% increase in its second quarter net income.
