* TSX rises 19.01 points, or 0.15 percent, to 12,628.81 * Five of 10 main sectors advance * CP Rail sheds 1.8 percent after activist investor move, downgrade * Barrick declines after project delay, bullion price fall By John Tilak TORONTO, June 4 (Reuters) - Canada's main stock index edged higher on Tuesday as stronger energy and financials shares offset a fall in Canadian Pacific Railway Ltd after a fund manager said it planned to sell a big chunk of its stake in the company. RBC Capital Markets cut its rating on CP Rail, a day after activist investor Pershing Square Capital Management said it would sell nearly one-third of its roughly 14 percent stake in the company. CP shares fell 1.8 percent. Market gains were also kept in check as declines in the price of bullion, which fell on concerns about demand in India, pulled shares of gold producers lower. The U.S. trade deficit widened in April as a rise in imports outpaced a rebound in exports, suggesting that trade remained a drag on economic growth as the second quarter started. The data gave investors confidence that the U.S. Federal Reserve might push ahead with its massive bond-buying program. "I don't really expect the Fed to taper off their monetary easing too quickly," said Stan Wong, vice president and portfolio manager at Macquarie Private Wealth. "Obviously, that will happen at some point down the road, but I don't think it's going to happen overnight." The Toronto Stock Exchange's S&P/TSX composite index was last up 19.01 points, or 0.15 percent, at 12,628.81. Canadian stocks, however, have sharply underperformed their U.S. peers so far this year. The sentiment for Canadian equities is "subdued," Wong said. "The story in Canada surrounds the fact that the housing market is a little bit weaker and commodity prices are falling," he added. "And that's going to continue to spell trouble for the TSX." Five of the 10 main sectors on the Canadian benchmark index were higher on Tuesday. Financials, the index's most heavily-weighted sector, gained 0.2 percent while energy shares climbed 0.5 percent. But the gold sector, down about 33 percent this year, shed 2.4 percent and caused a 0.8 percent decline in the materials group. Barrick Gold Corp lost 2.8 percent to trade at C$21.33, and Goldcorp Inc fell 1.7 percent to C$30.14. Barrick said late Monday it would delay the startup of its Pascua-Lama gold mine in Chile and Argentina past late 2014 and that as a result, the project would probably exceed its current budget of up to $8.5 billion. Meanwhile, shares in Rogers Communications gave back 1.7 percent to trade at C$46, a day after Canada's main industry watchdog said that consumers will be able to cancel their cellphone contracts after two years without penalty, instead of the three years that is the current industry standard. In other company news, Canada blocked Telus Corp's application to assume struggling upstart Mobilicity's wireless spectrum licenses. Telus shares were down 0.1 percent. The telecommunications sector slipped 0.4 percent.