November 19, 2015 / 4:07 PM / 2 years ago

CANADA STOCKS-TSX rises, led by gold stocks and Valeant

* TSX up 22.85 points, or 0.17 percent, at 13,422.82

* Seven of the TSX's 10 main groups higher

TORONTO, Nov 19 (Reuters) - Canada's main stock index edged higher on Thursday, led by gold shares and Valeant Pharmaceuticals International Inc, while energy was a drag following declines in crude oil prices.

At 10:26 a.m. EST (1526 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 22.85 points, or 0.17 percent, at 13,422.82.

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

The materials group rallied 0.8 percent, helped by a firming gold price. Barrick Gold Corp rose 3.3 percent to C$9.95, and Goldcorp Inc was up 2.15 percent at C$16.17.

Gold futures rose 1.1 percent to $1,080.9 an ounce, and copper prices advanced 0.1 percent to $4,615 a tonne.

Valeant rallied more than 8 percent to C$105. Still, the stock remains far below its price of C$300 in September as the company faces sharp scrutiny of its business practices.

Bombardier Inc rose 5.5 percent to C$1.35 after it said Caisse de depot et placement du Quebec, which manages Quebec's public pension plans, would buy a 30 percent stake in its rail unit for $1.5 billion.

The heavyweight financials group edged 0.1 percent higher, including a 0.4 percent advance for Royal Bank of Canada to C$75.83.

Supportive of stocks, minutes from the Federal Reserve's October meeting pointed to a cautious approach to tightening after a potential interest rate hike next month.

The energy group fell 1.0 percent, including a greater than 1 percent drop in Canadian Natural Resources Ltd to C$32.78 and a 0.7 percent drop in Suncor Energy Inc to C$37.21.

U.S. crude prices were down 1.4 percent at $40.19 a barrel, while Brent crude lost 0.1 percent to $44.12.

Canadian Pacific Railway Ltd pulled back 0.6 percent after rallying sharply on Wednesday, when it said its proposed $28.4 billion acquisition of U.S. railroad operator Norfolk Southern Corp would help the combined company to save at least $1.8 billion annually.

Loblaw Cos Ltd fell 3.8 percent to C$67.65. (Reporting by Fergal Smith; Editing by Lisa Von Ahn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below