CANADA STOCKS-TSX slips as miners and Bombardier drag

    * TSX falls 38.52 points, or 0.28 percent, to 13,951.77 
    * Eight of 10 main index sectors decline 
    * Bombardier stumbles after move to cut jobs 
 
    By John Tilak 
    TORONTO, Jan 21 (Reuters) - Canada's main stock index 
slipped on Tuesday, dragged lower by declines in the materials 
sector after commodity prices weakened and as shares of 
Bombardier Inc    fell after the company announced job 
cuts.  
    Chatter about the path of the U.S. central bank's 
bond-buying program revived after a report that the Fed might 
cut stimulus anew when it meets next week, further denting 
sentiment.  MKTS/GLOB  
    The Toronto Stock Exchange's benchmark index, which is up 
about 2.4 percent this year, hit its highest level in 2-1/2 
years on Tuesday before falling back. 
    Tuesday's decline came after five straight sessions of 
gains. On Monday, when the U.S. market was closed for a holiday, 
the Toronto index climbed more than 100 points.    
    "It's a question of investors out here digesting yesterday's 
gains," said Elvis Picardo, strategist at Global Securities in 
Vancouver, adding that there was reason for caution. 
    "When the overall mood is really upbeat, that tells you that 
people are perhaps taking too rosy a view of the future," he 
said. 
    The S&P/TSX composite index    closed down 38.52 
points, or 0.28 percent, at 13,951.77.  
    Eight of the 10 main sectors in the index were in the red. 
    The materials sector, which includes mining stocks, gave 
back 0.9 percent. While the prices of commodities such as gold 
and silver fell, the U.S. dollar strengthened, also dragging on 
the group.  GOL/   USD/  
    Barrick Gold Corp    slipped 2.2 percent to C$21.09. 
Miner Teck Resources Ltd    lost 3.4 percent to C$28.12. 
    Industrials fell 0.4 percent, with Bombardier Inc dropping 
3.9 percent to C$3.95. The plane maker said it will cut 1,700 
aerospace jobs, or more than 4 percent of the aerospace 
division's staff, as it pushes to preserve cash after costly 
setbacks in the development of two new jets.    
    Valeant Pharmaceuticals International Inc    declined 
2 percent to C$150.17, and was the biggest single drag on the 
market. 
 
 (Editing by Peter Galloway and Leslie Adler) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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