* TSX down 11.13 points, or 0.07 percent, to 15,575
* Four of the TSX's 10 main groups fall
* Pembina stock falls 3.3 percent to C$42.05; Veresen up 19
percent to C$18.13
* Home Capital Group falls 13.4 percent to C$6.96
By Solarina Ho
TORONTO, May 1 Canada's main stock index dipped
marginally on Monday, pulled lower in part by acquisition news
from Pembina Pipeline Corp and broad declines among
News of Pembina's C$9.7 billion stock-and-cash deal for
Veresen Inc sent shares down 3.3 percent to C$42.05,
while smaller rival, Veresen rose 19.0 percent to
The overall energy group retreated 0.2 percent.
The heavily weighted financials group failed to make headway
and remained little changed, as modest gains by Canada's five
biggest banks were offset by another tumble in Home Capital
Group Inc, Canada's biggest non-bank mortgage lender.
Shares slumped 13.4 percent to C$6.96 as depositors pulled
more money out of the troubled lender. Last month, regulators
accused the company of making "materially misleading statements"
"Home Capital seems to be in the crosshairs of people who
want to short the stock, or short Canada," said Ian Nakamoto,
equity specialist at MacDougall, MacDougall & MacTier, a
division of Raymond James.
The Toronto Stock Exchange's S&P/TSX composite index
dipped 10.5 points, or 0.07 percent, to 15,575.63.
Four of the index's 10 main groups retreated.
"For Canada, it's been a very disappointing market for the
last little while," said Nakamoto, noting concerns over oil and
the overheated housing sector that was spilling into the
financial services sector.
The materials group, home to precious and base metals miners
as well as fertilizer companies, lost close to 1.4 percent. A
slew of gold mining firms fell nearly 2 percent or more,
tracking bullion prices that fell 1 percent to a three-week low.
Barrick Gold Corp was the most influential
decliner, falling 1.9 percent to C$22.38, while Eldorado Gold
Corp sank 6.2 percent to C$4.68.
Shaw Communications stock rose 0.3 percent to
C$29.02 following news late on Friday that the Canadian cable
company is looking for a buyer for its U.S. data center company,
ViaWest. The overall consumer discretionary group rose 0.5
The information technology group ended 1.4 percent higher,
while healthcare stocks were up just over 1 percent.
Advancing issues outnumbered declining ones on the TSX by
125 to 118, for a 1.06-to-1 ratio on the upside.
The index was posting 22 new 52-week highs and 3 new lows.
(Reporting by Solarina Ho; Editing by Sandra Maler)