CANADA STOCKS-TSX higher as motley gainers cancel energy drag

Mon Jun 1, 2015 5:18pm EDT
 
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(Adds analyst's comments, updates prices to close)

* TSX ends up 60.04 points, or 0.40 percent, at 15,074.13

* Eight of the TSX's 10 main groups rise

By Alastair Sharp

TORONTO, June 1 (Reuters) - Canada's main stock index ended higher on Monday, with gains from an auto parts maker, a pharmaceutical company and a dollar store operator helping offset losses from the index's heavyweight energy sector.

Valeant Pharmaceutical International Inc, an acquisitive drugmaker that has risen quickly to become a major force on the index, was the most influential gainer, up 1.2 percent at C$300.08.

Auto supplier Magna International Inc also helped with a 3.4 percent gain to C$73.87, while Dollarama Inc jumped 3.6 percent to C$71.33.

The Toronto Stock Exchange's S&P/TSX composite index gained 60.04 points, or 0.40 percent, to close at 15,074.13. Eight of the 10 main sectors rose and advancing issues outnumbered declining ones by 155 to 87.

Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier, said the index could hit fresh record highs by the end of the year despite the sluggishness of energy stocks amid pricing uncertainty.   Continued...