CANADA STOCKS-Surge in Catamaran shares helps TSX climb

Mon Mar 30, 2015 4:47pm EDT
 
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* TSX ends up 95.97 points, or 0.65 percent, at 14,908.39

* Nine of 10 main index sectors advance

* Catamaran rises almost 25 percent on takeover deal

By John Tilak

TORONTO, March 30 (Reuters) - Canada's main stock index rose on Monday, buoyed by modest advances in the financial and energy sectors and a sharp increase in Catamaran Corp's price after UnitedHealth Group Inc agreed to buy the pharmacy-benefits manager.

Catamaran's shares shot up 24.7 percent to C$75.88, helping drive a 7 percent gain in the healthcare sector.

Miner Teck Resources Ltd rose 11.3 percent to C$19.45. After the closing bell Teck denied a Bloomberg News report saying it was exploring a merger with Antofagasta Plc .

Gains elsewhere were broad-based, as recent economic data and comments from executives raised expectations that China might undertake more monetary easing measures. Global equity markets benefited from those hopes.

"We're seeing some pretty broad-based strength to start the week," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners+ of Richardson GMP Ltd, which manages C$27 billion in assets.   Continued...