CANADA STOCKS-TSX higher in choppy trading; Valeant, energy key movers

Tue Sep 29, 2015 11:24am EDT
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(Updates throughout with market reaction, details)

* TSX up 53.75 points, or 0.41 percent, to 13,058.33

* Eight of the TSX's 10 main groups gain

By Solarina Ho

TORONTO, Sept 29 (Reuters) - Canada's main stock index rose on Tuesday in choppy trading, as Valeant Pharmaceuticals International and energy stocks helped lead the market back into positive territory after an earlier reversal.

Index heavyweight Valeant gyrated broadly after taking a more than 16 percent hit in the previous session following accusations of "massive" price increases by Democratic lawmakers. Shares rose 0.5 percent to C$222.81 in late morning trading.

At 11:08 a.m. EDT (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 53.75 points, or 0.41 percent, to 13,058.33.

Of the index's 10 main groups, eight were in positive territory.

Energy stocks, bolstered by higher crude prices, climbed 1.0 percent. Canadian Natural Resources rose 2.1 percent to C$26, while Suncor Energy Inc advanced 0.8 percent to C$34.89. Enbridge Inc tempered some of the oil and gas gains, with a 1.1 percent loss to C$49.43.   Continued...