CANADA STOCKS-TSX slips, Bombardier jumps on train merger report

Tue Apr 11, 2017 10:24am EDT
 
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(Adds details on specific stocks, updates prices)

* TSX down 20.26 points, or 0.13 percent, to 15,710.53

* Eight of the TSX's 10 main groups fall

TORONTO, April 11 (Reuters) - Canada's main stock index slipped in morning trade on Tuesday as heavyweight energy and banking stocks weighed, while Bombardier Inc jumped on a report it is in talks to merge its train operations with those of Germany's Siemens AG.

Bombardier shares gained 4.5 percent to C$2.32, their highest level in a month, after Bloomberg cited unnamed sources saying the plane and train maker was in talks with Siemens to merge train operations in a deal that could be worth 10 billion euros.

Gold miners also featured among the most influential movers on the index as the price of the precious metal rose, with geopolitical worries about North Korea, the Middle East and the looming French election spurring investors to seek assets seen as havens from risk.

Barrick Gold Corp advanced 1.3 percent to C$26.33 and Goldcorp Inc rose 1.2 percent to C$20.15.

But the sizable energy group retreated 0.4 percent as oil prices eased off five-week highs.

Pipeline company Enbridge Inc fell 0.4 percent to C$56.74 and Suncor Energy declined 0.6 percent to C$41.54.   Continued...