CANADA STOCKS-Bank, Catamaran shares drive TSX higher

Mon Mar 30, 2015 10:52am EDT
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* TSX up 131.17 points, or 0.89 percent, at 14,943.59

* Nine of 10 main index sectors advance

* Catamaran jumps 25 percent on takeover deal

By John Tilak

TORONTO, March 30 (Reuters) - Canada's main stock index climbed on Monday, supported by advances in the financial sector and a jump in Catamaran Corp after UnitedHealth Group Inc agreed to buy the pharmacy benefit manager. .

Catamaran's shares shot up 25 percent to C$76.05, helping drive a 7 percent gain in the healthcare sector.

Recent economic data and comments from executives raised expectations that China might undertake more monetary easing measures. While global equity markets benefited from those hopes, some market experts wondered if the optimism was justified.

"It's all fine that China is going to put stimulus into the system, but the reality is that it's doing it because its economy is (slowing)," said Colin Cieszynski, chief market strategist at CMC Markets.

"It's an excuse for day-to-day trading, but I'm not convinced that it's the foundation of a sustainable rally," he added.   Continued...