CANADA STOCKS-TSX rises as energy stocks, Valeant gain

Tue May 17, 2016 11:17am EDT
 
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(Adds details on energy sector, updates prices)

* TSX up 47.29 points, or 0.34 percent, to 13,940.78

* Four of TSX's 10 main groups were higher

* Three gainers for every two decliners

TORONTO, May 17 (Reuters) - Canada's main stock index gained on Tuesday as the energy group rose on higher oil prices and Valeant Pharmaceuticals International Inc surged after it said it would make required securities filings to Canadian regulators.

Laval, Quebec-based Valeant, which is under scrutiny over its drug pricing, business practices and accounting, rose 4.5 percent to C$36.41 after saying it planned to make the filings on or before June 10.

Canadian Natural Resources added 0.8 percent to C$38.03 and pipeline operator Enbridge Inc rose 1.6 percent to C$52.96.

Oil touched a six-month high on Tuesday as outages in Nigeria and Canada lent support and despite a deal between Libyan factions bringing the prospect of higher output a step closer.

U.S. crude prices were up 0.6 percent to $48.02 a barrel, while Brent crude added 0.3 percent to $49.11.   Continued...