Sliding energy stocks, mixed earnings news push Toronto stock market lower

TORONTO - The Toronto stock market closed lower Thursday, depressed by earnings reports and sliding energy stocks.

The S

There was no apparent reason for the tumble and analysts suggested the slide was as much due to profit taking as anything else. As of yesterday, the sector had run up almost 17 per cent year to date, making it the best-performing TSX sector.

Traders also digested earnings reports from Canadian Tire and auto parts giant Magna International, which missed expectations.

The Canadian dollar gained 0.61 of a cent to a four-month high of 92.4 cents US, a day before the release of the April employment report.

U.S. indexes were mixed as the Dow Jones industrials gained 32.43 points to 16,550.97. The Nasdaq was down 16.18 points to 4,051.5 and the S