Stocks in Toronto fell slightly this morning. The Toronto Stock Exchange 300 composite index slipped 11.19 points to 7,648.10. Volume was heavy, with 83 million shares changing hands, valued at C$2.1 billion.

The pipelines group rose 1.07% after British gas and home-services firm Centrica announced that it has agreed to buy the Canadian home-heating services arm of Enbridge Inc. Enbridge stock rose 83¢ to $42.90, while TransCanada PipeLines Ltd. gained 21¢ to $19.66.

Overall, eight of the 14 TSE subgroups climbed higher, as the consumer products sector fell 1.62 percent, largely on weakness in the biotech sector. Biovail Corp. fell $1.50 to $76.85, while QLT Inc. dropped $1.63 to C$34.63.

Oil and gas stocks also fell – down 1.12%, after PanCanadian Energy and Alberta Energy Co. announced they would merge to form world’s largest independent oil and gas exploration and production company. PanCanadian plumetted $3.45 to $41.75 on a heavy volume of more than 9 million shares, while Alberta Energy rose $1.20 to $60.70on a volume of 6.6 million.

South of the border, stocks shed early gains. Investors are waiting for the outcome of he Federal Reserve’s policy setting meeting this week. Many companies have been beating fourth-quarter earnings estimates, though some analysts say corporate forecasts for several quarters ahead have leave something to be desired.

The Dow Jones industrial average fell 3.75 points to 9,843.83, while the broader Standard & Poor’s 500 Index sagged 0.16 points to 1,133.12. The NASDAQ composite index fell 9.52 points to 1,947.22.

The market rose in early trading. The auto sector got a boost after Morgan Stanley after it raised its investment rating on the sector. It also boosted individual ratings on carmakers General Motors and Ford Motor Co. saying the stocks are cheap given car demand and low borrowing rates.