CANADA STOCKS-TSX extends 9-month high as energy stocks rise with oil

Tue Jun 7, 2016 10:39am EDT
 
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(Adds details from early trade, updates prices)

* TSX up 50.35 points, or 0.35 percent, at 14,326.51

* Seven of the TSX's 10 main groups rise

TORONTO, June 7 (Reuters) - Canada's main stock index extended its recent run to a more than 9-month high on Tuesday as oil and gas stocks jumped with buoyant crude prices and heavyweight financial stocks also rose.

The overall gains were capped by a sharp fall in shares of Valeant Pharmaceuticals International Inc.

Valeant's stock fell 19.6 percent to C$29.76 after the embattled drug company missed quarterly profit estimates on weakness in its dermatology business and cut its full-year earnings and revenue forecast.

Still, at 10:10 a.m. EDT (1410 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 50.35 points, or 0.35 percent, at 14,326.51. That was its highest level since mid-August.

Seven of the index's 10 main groups were in positive territory, with seven rising stocks for every three decliners.

The most influential gainers included Royal Bank of Canada , which rose 0.6 percent to C$79.82, and Toronto-Dominion Bank, which also added 0.6 percent, to C$57.69.   Continued...