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TSX declines while loonie climbs on energy prices

The Toronto stock market was lower this morning, with most sectors declining, while the loonie climbed higher on an increase in energy prices and stronger-than-expected Canadian economic growth.

The S&P/TSX composite index was down 81.78 points to 15,109.58, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 4.95 points to 21,791.60. The S&P 500 index was down 8.33 points to 2,467.09 and the Nasdaq composite index was down 24.91 points to 6,357.28.

The Canadian dollar was trading at 80.52 cents U.S., up from an average price of 79.87 cents U.S. on Thursday. The increase came after Statistics Canada said the economy grew by 0.6 per cent in May, topping the 0.2 per cent that economists had expected.

In commodities, the September crude contract was up 59 cents to $ 49.63 (U.S.) per barrel and the September natural gas contract was unchanged at $ 2.97 per mmBTU.

The August gold contract was up $ 5.60 to $ 1,265.60 an ounce and the September copper contract was down one cent to $ 2.87 a pound.