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CANADA STOCKS-TSX falls with energy retreat; Bombardier jump on deal talk

Published 2016-04-15, 10:32 a/m
© Reuters.  CANADA STOCKS-TSX falls with energy retreat; Bombardier jump on deal talk
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LCO
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(Adds details on energy sector, Mitel and Bombardier deals,
economic data, updates prices)
* TSX down 67.05 points, or 0.49 percent, at 13,601.24
* Two decliners for every advancing stock
* Index on track for 1.5 percent gain for the week

TORONTO, April 15 (Reuters) - Canada's main stock index fell
on Friday as a pullback in oil prices weighed on energy shares,
while Bombardier Inc BBDb.TO surged on reports that it is
close to a deal to sell up to 125 CSeries jets to a U.S.
airline.
The most influential weights on the index included Suncor
Energy Inc SU.TO , down 2 percent at C$36.17, and Canadian
Natural Resources CNQ.TO , which declined 2.5 percent to
C$36.59.
The energy group retreated 2.4 percent, with oil lower in
thin trading as analysts said a weekend meeting of major
exporting countries would do little to help to clear global
oversupply quickly, even though it would provide a floor for the
market. O/R
Bombardier advanced 9.8 percent to C$1.68 after the Wall
Street Journal reported that Delta Air Lines Inc (NYSE:DAL) DAL.N was in
the final stages of a deal with the planemaker, citing three
sources. A separate source told Reuters a deal was close.

At 9:59 a.m. EDT (1359 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 67.05 points, or 0.49
percent, at 13,601.24.
While half the index's 10 main groups were in positive
territory, decliners outnumbered advancers by more than 2-to-1.
Still, the index is on track for a 1.5 percent gain on the
week.
Mitel Networks Corp MNW.TO fell 9.7 percent to C$9.10
after announcing it would pay about $1.96 in cash and stock to
acquire fellow voice and telephony gear maker Polycom Inc
PLCM.O .
The financials group slipped 0.3 percent, while industrials
rose 0.2 percent.
Canadian manufacturing sales tumbled more than expected in
February, giving back some of their recent strength as sales of
vehicles and petroleum products dropped, data showed on Friday.

The materials group, which includes precious and base metal
miners and fertilizer companies, lost 0.9 percent.
Copper prices CMCU3 declined 1.1 percent to $4,778.5 a
tonne. MET/L
U.S. crude CLc1 prices were down 3.3 percent at $40.15 a
barrel, while Brent LCOc1 fell 3.2 percent to $42.42.

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