* TSX down 13.62 points, or 0.09 percent, to 14,526.38
* Half of the TSX's 10 main groups move higher
* Financial stocks weigh as global indices fall
TORONTO, Sept 12 Canada's main stock index
slipped on Monday as banks fell with a retreat in overseas
equities markets, but losses were cushioned by companies gaining
on domestic merger activity.
Open Text Corp soared 7.8 percent to C$84.02 after
the software company said it had agreed to buy Dell-EMC's
enterprise content division for $1.62 billion.
Potash Corp rose 1.7 percent to C$22.51 after
agreeing to merge with Agrium Inc in a deal that would
create a fertilizer giant with an enterprise value of about $36
billion but could draw scrutiny from U.S regulators.
Agrium rose initially before turning negative and was last
down 0.9 percent at C$123.01.
The broader index was slightly lower despite the
deal-inspired gains, hurt by bearish sentiment stoked by Asian
stocks suffering their sharpest setback since June and European
stocks falling as much as 2 percent.
The overseas selling was fed by concern that the U.S.
Federal Reserve may hike interest rates next week and that the
European Central Bank and the Bank of Japan may be slowing their
monetary policy easing efforts.
At 10:41 a.m. EDT (1441 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 13.62 points, or 0.09
percent, to 14,526.38. It had briefly broken into positive
Half of the index's 10 main groups were in positive
territory, although decliners were outnumbering gainers by
The heavyweight financials group fell 0.6 percent, with
Royal Bank of Canada down 0.6 percent at C$80.21 and
Bank of Nova Scotia off 0.8 percent to C$69.20.
The energy group made a slight gain as oil prices rose
despite speculators delivering hefty cuts to their bullish bets
last week and U.S. crude drillers adding more rigs for a tenth
The materials group, which includes precious and base metals
miners as well as fertilizer companies, added 1.2 percent.
(Reporting by Alastair Sharp Editing by W Simon)