* TSX down 35.68 points, or 0.24 percent, at 15,075.45
* Hudson’s Bay up 9 percent as investors cheer debt deal (Adds fund manager’s comment, details, updates prices)
TORONTO, Nov 24 (Reuters) - Canada’s main stock index slipped on Monday with heavyweight energy shares taking a hit from sluggish oil prices, offset by gains in railways, banks, and a surge in Hudson’s Bay Co, which outlined a $1.25 billion refinancing plan.
The two main railways, Canadian National and Canadian Pacific, were the top performers, with CN Rail adding 1.2 percent to C$81.95 and CP gaining 1.5 percent to C$233.48.
“They are a proxy for the (Canadian and U.S.) economies,” John Kinsey, a portfolio manager at Caldwell Securities, said of the pair. “I think personally they’re a little bit pricey but you can’t argue with the success they’ve had.”
Signs that central banks in Asia and Europe are moving to support economic growth and inflation led to broad gains on most North American stock markets.
But with crude oil steady around $80 a barrel, near four-year lows, companies that extract or sell it were among the heaviest weights on the Canadian index.
Suncor Energy was down 1.6 percent at C$39.86, and Canadian Natural Resources shed 1.9 percent to C$41.86.
The Toronto Stock Exchange’s S&P/TSX composite index was down 35.68 points, or 0.24 percent, at 15,075.45.
Shares in department store operator Hudson’s Bay Co jumped 9 percent to C$22.02 after the company outlined a $1.25 billion refinancing plan to reduce interest payments on debt taken on when it acquired U.S. rival Saks last year.
The retailer said it would take out a 20-year mortgage on the ground portion of its flagship Saks Fifth Avenue store in New York City after an appraiser valued the property at C$4.1 billion ($3.65 billion), significantly more than HBC paid for all of Saks when it acquired the company last year.
$1=$1.27 Canadian Reporting by Alastair Sharp Editing by W Simon; and Peter Galloway
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