CANADA STOCKS-TSX falls as Valeant plunge offsets gains for gold miners, financials
(Adds analyst quotes, details on industrials, Barrick Gold, Suncor Energy; updates prices)
* TSX ended down 77.23 points, or 0.57 percent, at 13,400.31
* Five of the TSX's 10 main groups ended lower
By Fergal Smith
TORONTO, March 15 (Reuters) - Canada's main stock index fell on Tuesday as Valeant Pharmaceuticals International Inc tanked, overshadowing gains for gold miners and financials ahead of a Federal Reserve interest rate decision on Wednesday.
The shares of Valeant plunged 51 percent to C$45.14 after the drugmaker cut its 2016 revenue forecast by about 12 percent and said a delay in filing its annual report could pose a debt default risk.
"Valeant has got everyone's attention," said Paul Hand, managing director at RBC Capital Markets. "It's really quite stunning."
Industrial stocks also dragged, including a nearly 3 percent drop in the shares of Canadian Pacific Railway Ltd to C$169.88.
However, excluding Valeant, the index would have risen 0.3 percent in quiet trading ahead of the Fed decision. Continued...