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TSX down 0.4%

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BoC rate decision on June 5

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GFL Environmental ( GFL ) jumps to touch near four-week high

(Updated at 10:19 a.m. ET)

By Shubham Batra

June 3 (Reuters) - Canada's main stock index slipped on

Monday in a volatile session, led by losses in energy stocks

tracking lower oil prices, while investors awaited the Bank of

Canada's interest rate decision and other economic data due this

week.

At 10:19 a.m. ET (14:19 GMT), the Toronto Stock Exchange's

S&P/TSX composite index was down 78.59 points, or

0.35%, at 22,190.53.

Energy shares declined 2% as oil prices fell

following a complex deal brokered by producer group OPEC+ to

extend various layers of output cuts, most of them into 2025.

"TSX had a very nice May but still underperforming

significantly versus the US markets year-to-date. It's just

probably due to oil prices kind of being flat year-to-date, so

not really helping there," said Barry Schwartz, chief investment

officer at Baskin Financial Services.

Materials stocks, also under selling pressure,

were down 0.1%, led by losses in metal miners such as Filo Corp ( FLMMF )

, SilverCrest Metals ( SILV ) and Ero Copper Corp ( ERO )

, among others.

However, investors were squarely focused on the BoC's rate

decision on Wednesday.

The central bank is expected to trim interest rates to

4.75%, according to three-quarters of economists in a Reuters

poll that showed three further cuts this year, with the last one

hanging on a knife's edge.

The loonie was marginally lower against the U.S.

dollar at C$1.3609.

The expectations of a rate cut were boosted after the

Canadian economy expanded at a slower-than-expected pace in the

first quarter, data showed on Friday.

"It's a done deal, whether it's June or July, it's

happening," Schwartz added.

Across the border, Wall Street opened higher, lifted by

semiconductor and megacap growth stocks ahead of a data-packed

week.

Among individual stocks, shares of GFL Environmental Inc ( GFL )

jumped 6.8% to touch a near four-week high after a

report by CFTN said the waste management firm was considering

potential offers from private-equity firms.