CANADA STOCKS-TSX rebounds as industrials, miners gain

Fri May 1, 2015 5:08pm EDT
 
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(New throughout, updates prices and market activity to close, adds portfolio manager comment)

* TSX ends up 115.25 points, or 0.76 percent, at 15,339.77

* Nine of the index's 10 main groups advance

* Materials group up 1.8 pct, industrials gain 1.7 percent

By Alastair Sharp

TORONTO, May 1 (Reuters) - Canada's main stock index rebounded on Friday, with gains among miners, industrials and banks helping recoup almost all the previous session's losses.

The most influential riser was Valeant Pharmaceuticals International Inc, which jumped 3.7 percent to C$271.19, after a slew of analysts raised price targets. The drugmaker had raised its earnings and sales forecasts on Wednesday.

Month-end positioning and disappointing earnings reports had sent the index down 0.8 percent on Thursday, but the Toronto Stock Exchange's S&P/TSX composite index reversed that move on Friday, rising 115.25 points, or 0.76 percent, to 15,339.77.

The index slipped 0.4 percent for week, although it climbed more than 2 percent during the month of April, bolstered in part by a rally in crude prices.   Continued...