July 13, 2016 / 4:36 PM / a year ago

CANADA STOCKS-TSX slips as energy stocks slump, Bank of Canada trims outlook

(Recasts with index fall after crude data, Bank of Canada)

* TSX falls 29.97 points, or 0.21 percent, to 14,447.70

* Eight of the TSX’s 10 main groups push lower

* Index reversed gains after crude inventory data, Bank of Canada

By Alastair Sharp

TORONTO, July 13 (Reuters) - Canada’s main stock index turned negative on Wednesday as energy shares slumped with oil on renewed fears of a supply glut and the broader market pulled back after the Bank of Canada held interest rates steady and cut its economic outlook.

The heavyweight energy group retreated 2.2 percent, with Canadian Natural Resources down 2 percent to C$40.59, Suncor Energy Inc falling 2.1 percent to C$36.46, and pipeline operator Enbridge Inc slipping 0.9 percent to C$55.01.

Oil prices tumbled than 4 percent after the U.S. government stunned the market with bearish oil inventory data that added to renewed concerns over a global glut.

At 12:16 p.m. EDT (1616 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 29.97 points, or 0.21 percent, to 14,447.70.

It had touched a fresh 11-month high of 14,535.65 prior to the crude inventory data and the Bank of Canada’s news.

The central bank cut its growth forecast for 2016 but held rates steady, saying exports continued to disappoint and acknowledging it may have underestimated structural challenges facing businesses.

Eight of the index’s 10 main groups were in negative territory.

Gold miners advanced as the price of bullion recovered from its lowest in nearly two weeks, and prospects for further economic stimulus helped bolster investor appetite.

The most influential gainers included Barrick Gold Corp’s 1.5 percent rise to C$27.29 and Agnico Eagle Mining , which added advanced 3.8 percent to C$73.42.

On the other side of the ledger, Canadian Tire Corp Ltd shares fell 3.0 percent to C$140.04 after the retailer reappointed Stephen Wetmore as CEO more than 18 months after he left the top job.

Corus Entertainment Inc declined 5.2 percent to C$12.98 after reporting lower-than-expected quarterly adjusted profit. (Editing by Chizu Nomiyama and James Dalgleish)

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