Toronto stocks closed lower Thursday following declines in the information technology and metal and mining sectors. The S&P/TSX composite index fell 36.2 points to 8,160.59.

Nortel Networks restarted its losing streak, dropping 14¢ to $4.63. However, CGI Group rose 7¢ to $8.26 after announcing an outsourcing deal worth $338 million with Cox Insurance Holdings in the U.K.

In the metal and mining sector, Inco lost $1.09 to $41.09 while Noranda slid 31¢ to $21.40.

The energy sector also slipped. Canadian Natural Resources fell 70¢ to $37.60 and Ivanhoe Energy gave up 6¢ to $3.06.

The junior S&P/TSX Venture composite index shed 5.61 points to 1,553.98.

In New York, the Dow Jones industrial average climbed slightly, up 13.13 points to 9,950.84. The tech-heavy Nasdaq composite index added a mere 1.85 points to 1,900.02. The broader S&P 500 index gained slightly, just 1.69 points higher to 1,090.37.

High crude oil prices helped keep buying in check. Oil prices fell 32¢ to US$41.18 a barrel today, but that drop followed yesterday’s surge of almost a full U.S. dollar after the U.S. Department of Energy issued a disappointing report on fuel inventories.

The latest U.S. initial jobless claims countered recent fears about interest rates because it came in below expectations, raising hopes the Federal Reserve will stall a rush to raise rates.