CANADA STOCKS-TSX little changed: Veresen soars, Home Capital slumps

Mon May 1, 2017 11:28am EDT
 
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* TSX up 7.53 points, or 0.05 percent, to 15,593.66

* Five of the TSX's 10 main groups were up

* Energy shares down 0.5 percent; financials up 0.3 percent

TORONTO, May 1 (Reuters) - Canada's main stock index was little changed on Monday, as a pipeline company's shares soared on an acquisition announcement, but a major mortgage lender slumped.

Shares of Veresen Inc jumped 19.2 percent to C$18.15 on news that it agreed to be acquired in a $C9.7 billion ($7.10 billion) stock-and-cash deal by its larger rival Pembina Pipeline Corp .

Pembina shares declined 2.2 percent to C$42.56, and the overall energy group retreated 0.5 percent.

The heavily weighted financials group gained 0.3 percent, with Canada's five biggest banks edging modestly higher.

Shares of Home Capital Group Inc, Canada's biggest non-bank mortgage lender, tumbled 21.4 percent to C$6.32 after the company said its high-interest accounts balance was expected to fall to about C$391 million from C$1.4 billion a week ago.

Last month, regulators accused the company of making "materially misleading statements" to investors.   Continued...