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Toronto stock index backs away from Wednesday's record high, dollar rises

TORONTO - Canada's main stock index has retreated from the record highs it set on Wednesday, with the utility, industrial and materials sectors leading the decline.

The Toronto Stock Exchange's S&P/TSX composite index was down 62.22 points to 16,140.91, after 90 minutes of trading -- more than offsetting the previous day's 37.86-point gain.

In New York, the Dow Jones industrial average was up 52.63 points to 24,826.93. The S&P 500 index was up 1.06 points to 2,683.68 and the Nasdaq composite index was up 2.40 points to 6,941.74.

The Canadian dollar was trading at 79.41 cents US, up from Wednesday's average price of 79.11 cents US.

The February crude contract was down six cents to US$59.58 per barrel and the February natural gas contract up 18 cents to US$2.91 per mmBTU.

The February gold contract was up $2.90 to US$1,291.20 an ounce and the March copper contract was up two cents to US$3.29 a pound.

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