TORONTO (Reuters) — The Toronto Stock Exchange’s main index snapped a three-day winning streak to end marginally lower yesterday, as a drop in energy and materials issues offset telecoms strength after BCE Inc. said it was in talks that could lead to its privatisation.The S&P/TSX composite index closed down 2.03 points, or 0.01 percent, at 13,657.95, after hitting a record high of 13,711.95 earlier in the day.

“Most of the strength you’ve seen today has come from the telecoms sector,” said Elvis Picardo, investment strategist at Northern Securities Inc. in Vancouver. “BCE and Telus have really been outshining performers on the day.

“But, overall, I think there’s still a sense of caution permeating the market. With earnings season set to begin in earnest we could be seeing some profit-taking in select stocks at this point.”

Four of the index’s 10 main groups were lower, led by a 0.7 percent drop by both the heavyweight energy sector and the resource-laden materials group. Together they make up more than 40 percent of the index’s total weight.

“The commodities are a little weaker here in the afternoon — golds are weaker, oils were better this morning and they’re sloppier now so they’re offsetting what has been modest strength in the financial services,” added Paul Hand, managing director at RBC Capital Markets.

Energy shares fell as the price of US crude dropped 51 cents to $63.10 a barrel as a major Nigerian oil field was expected to restart after being shuttered for more than a year, and ahead of US government inventory data expected today.

Suncor Energy Inc. shed C$1.11, or 1.2 percent, to C$91.57, while EnCana Corp. slid 79 Canadian cents, or 1.3 percent, to C$60.75.

Shares of mining companies also fell, largely due to a slump in gold prices. Barrick Gold Corp., the world’s No. 1 producer, fell 18 Canadian cents, or 0.5 percent, to C$33.38.

Potash Corp. of Saskatchewan Inc. slid C$3.11, or 1.5 percent to C$205.69, while zinc giant Teck Cominco Ltd. dipped 76 Canadian cents, or 0.9 percent, to C$88.05.

The two resource sectors offset strength from the telecoms group, which was up 4.1 percent on the back of BCE.

Canada’s top telecommunications company, rose C$2.34, or 6.5 percent, to C$38.60 after it said it was in talks with Kohlberg Kravis Roberts & Co. and three big Canadian pension funds that could lead to BCE’s privatization in Canada’s biggest buyout.