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CANADA STOCKS-TSX falls as deal news pressures Cenovus, CIBC

Reuters

(Adds details on sectors and stocks throughout and updates prices)

* TSX falls 37.67 points, or 0.24 percent, to 15,619.96

* Seven of the TSX's 10 main groups fall

TORONTO, March 30 (Reuters) - Canada's main stock index pulled back from a one-month high on Thursday as deal-related news pressured shares of Cenovus Energy Inc and Canadian Imperial Bank of Commerce.

Cenovus shares tumbled 11.8 percent to C$15.39 after the Canadian company agreed to buy oil sands and natural gas assets from ConocoPhillips for C$17.7 billion.

The overall energy group was down 1.2 percent even as oil prices rose. U.S. crude was up 1.8 percent at $50.41 a barrel.

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Shares of CIBC fell 2.1 percent to C$114.79 after it raised its offer for PrivateBancorp Inc ahead of a June deadline. CIBC said it offered about $4.9 billion in cash and stock, up from the earlier $3.8 billion offer.

Toronto-Dominion Bank's chief executive officer told shareholders at the bank's annual meeting that it does not have a "widespread problem" with its sales practices, responding to a report staffers were pressured to meet targets.

Its shares rose 0.4 percent to C$66.37, while the overall financials group was little changed.

The steady profile for financials came as data showed that the U.S. economy grew at a faster pace in the fourth quarter than previously estimated. Some of Canada's major banks have operations in the United States.

At 11:37 a.m. ET (1537 GMT), the Toronto Stock Exchange's S&P/TSX composite index was off 37.67 points, or 0.24 percent, to 15,619.96.

On Wednesday, the index posted its highest close in more than a month at 15,657.63.

Dollarama Inc's quarterly profit beat analysts' estimates as the average amount customers spent at its stores increased, sending the Canadian discount retailer's shares to a record high, up 7.6 percent at C$107.35.

Seven of the index's 10 main groups were lower.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.4 percent.

Gold futures fell 0.4 percent to $1,249.1 an ounce, while copper prices advanced 1.1 percent to $5,971 a tonne. (Reporting by Fergal Smith; Editing by James Dalgleish)