TSX closes lower as oil declines

The Toronto stock market ended lower on Wednesday as a decline in oil prices pulled down energy stocks. The S&P/TSX composite index slid 31.76 points to 12,359.47 while the TSX Venture Exchange was off 6.56 of a point to 1,325.22.

The Canadian dollar fell 0.40 of a cent (U.S.) to 101.20 cents.

Most of the losses came from the energy sector, which was down 1.2 per cent, with November crude on the New York Mercantile Exchange ending the session $3.75 lower at $88.14 a barrel.

Crude prices have fallen to their lowest level in a month, weighed by concerns about the economic slowdown in Europe, China and the United States.

The gold sector was also weaker while December bullion rose $4.20 to $1,779.80 an ounce, while December copper was down 1.7 cents at $3.78 a pound.

However, there was some encouraging economic data from the U.S. that helped take some of the pressure off the decline. A report from payroll processor ADP said U.S. companies added 162,000 jobs last month, slightly better than consensus expectations, but down from August. The data indicated that growth isn’t picking up momentum. On Wall Street, the Dow Jones industrials were up 12.25 points to 13,494.61. The Nasdaq composite index advanced 15.19 points to 3,135.23, while the S&P 500 index gained 5.24 points to 1,450.99. North American stock markets have been moving cautiously this week ahead of the latest U.S. jobs data, due on Friday.