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TSX at 2pm: TSX Falls, Erasing Earlier Gains as Enthusiasm Over Cyprus Deal Fades

The Toronto stock market was lower in afternoon trading, erasing earlier gains as gold and energy stocks declined and early enthusiasm for Cyprus's bailout deal faded.

The S&P/TSX Composite Index was off 57 points at 12,700 after hitting a high of 12,788 in morning trading.

All of the TSX's sub-sectors were in negative territory as utilities, materials and energy shares fell.

Heavily traded BlackBerry (BB.TO) shed 3%, falling for a second straight session ahead of the release of its quarterly earnings on Thursday. Bombardier (BBD-B.TO) fell 2%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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