Energy, Mining Stocks Drag TSX Lower - Canadian Commentary

The S&P/TSX Composite Index lost 86.35 points or 0.87% to settle at 9,762.85. The index has lost more than 4.5% from last Friday’s close above 10,200.Energy stocks dropped 2.5% as crude oil plunged more than $2 on the NYMEX on demand worries. Canadian Oil Sands (COS.UN.TO) is down 4.1%, Savanna (SVY.TO) has lost 3.7%, Canadian Natural Resources (CNQ.TO) declined 3.8% and Encana (ECA.TO) fell 1.8%.Petro-Canada (PCA.TO) lost 2.6% after investment company Letko Brosseau & Associates said it will vote against the $16.5 million takeover bid from Suncor (SU.TO). Suncor fell 2.8% for the day.Meanwhile, Epsilon Energy (EPS.TO) surged 10.3% after reporting first quarter revenues increased to C$1.71 million from C$1.54 million in the previous year quarter. Net loss widened to $0.02 per share, compared to $0.01 per share a year ago.Mining stocks saw a 2.4% drop as copper finished modestly lower to add to its weekly slump. Denison Mines Corp. (DML.TO) fell 8.9% after Credit Suisse downgraded the shares to Underperform from Neutral, while increasing its price target to C$1.75 from C$1.45.Fronteer Development Group Inc. (FRG.TO) added 0.3% after the company reported a net loss for the first quarter of C$5.45 million or C$0.06 per share, in comparison with a net loss of C$6.22 million or C$0.07 per share in the prior year quarter.