Energy losses move TSX down modestly

TORONTO — Losses in the energy sector led Canada’s main stock index modestly lower Tuesday as U.S. markets drifted higher for the third day in a row.

The S&P/TSX composite index was down 25.41 points to 15,216.47, in a largely broad-based decline.

In New York, the Dow Jones industrial average was up 39.18 points to 24,640.45. The S&P 500 index was up 6.94 points to 2,662.94 and the Nasdaq composite index was up 31.55 points to 7,013.51.

Tuesday’s market calm follows harrowing levels of market volatility over the last two weeks when the TSX fell more than five per cent and Wall Street indexes entered “correction’’ territory. The Canadian dollar closed at an average trading value of 79.37 cents US, up 0.02 of a U.S. cent. The March crude contract was down 10 cents to US$59.19 per barrel and the March natural gas contract was up four cents to US$2.59 per mmBTU.

The April gold contract was up US$4.00 to US$1,330.40 an ounce and the March copper contract was up eight cents to US$3.16 a pound.