*
TSX ends up 0.9 points at 24,256.06
*
BCE tumbles 9.7% after acquisition deal
*
Energy rises 1.3%; oil settles 2.85% higher
*
Real estate adds 0.9%
(Updates at market close)
By Fergal Smith
Nov 4 (Reuters) - Canada's main stock index was barely
changed on Monday as gains for energy offset a sharp drop in
BCE's shares, with investors reluctant to make big bets ahead of
the U.S. presidential election and a Federal Reserve interest
rate decision.
The S&P/TSX composite index ended up 0.9 points at
24,256.06, holding on to the modest gain it made on Friday. On
Thursday it posted its lowest close in more than three weeks.
"There isn't much appetite for risk ahead of an extremely
pivotal week," said Elvis Picardo, portfolio manager at Luft
Financial, iA Private Wealth.
U.S. presidential election candidates Donald Trump and
Kamala Harris scrambled for an edge in the last full day of a
race that polls show as extremely close.
Investors expect the U.S. central bank to lower its
benchmark rate by 25 basis points on Thursday.
Shares of BCE Inc ( BCEXF ) tumbled 9.7% after the
communications company agreed to buy internet services provider
Ziply Fiber for $3.60 billion in cash.
"The news of the acquisition wasn't well received," Picardo
said. "They've pressed the pause button on dividend growth until
their debt levels normalize."
Energy rose 1.3% as the price of oil settled 2.85% higher at
$71.47 a barrel after OPEC+ delayed a planned output increase.
The Canadian government released long-awaited draft
regulations that would cap emissions of greenhouse gases from
the oil and gas sector at 35% below 2019 levels by 2030, drawing
condemnation from the industry that said it will force a cut in
production.
Real estate also notched gains, rising 0.9%, as bond yields
fell.