December 18, 2017 / 9:58 PM / 10 months ago

CANADA STOCKS-TSX rises as energy, financials lead broad based rally

* TSX ends up 89.66 points, or 0.56 percent, at 16,131.64

* All of the TSX’s 10 main groups end higher

* Energy rallies 1.5 percent, financials gain 0.4 percent

TORONTO, Dec 18 (Reuters) - Canada’s main stock rose on Monday in a broad rally led by big banks and energy stocks as well as Valeant Pharmaceuticals International Inc, with the index touching a record intraday high before paring some gains.

* The Toronto Stock Exchange’s S&P/TSX composite index closed up 89.66 points, or 0.56 percent, at 16,131.64. Its highest intraday was 16,200.81.

* Valeant Pharmaceuticals International Inc rose 7.4 percent to C$27.28 after saying that its Bausch + Lomb division began distributing a treatment for glaucoma to U.S. wholesale pharmaceutical distributors.

* The energy group climbed 1.5 percent, with Suncor Energy Inc gaining 1.3 percent and Canadian Natural Resources Ltd up 1.9 percent, even as oil prices fell.

* U.S. crude oil futures settled 0.2 percent lower at $57.16 a barrel as growth in U.S. crude output cast a shadow over the market.

* Canadian oil producers are running out of options to get crude to market as pipeline and rail capacity fills up, driving prices to four-year lows and increasing the risk of firms having to sell cheaply until at least late 2019.

* The heavyweight financials group gained 0.4 percent and industrials rose 0.3 percent. The materials group, which includes precious and base metals miners and fertilizer companies, added 0.9 percent.

* Gold futures rose 0.6 percent to $1,261.2 an ounce and copper prices advanced 0.7 percent to $6,932.5 a tonne.

* First Quantum Minerals Ltd fell 0.4 percent to C$17.06 after the miner said it had acquired an option on a 50 percent stake in the Pebble copper-gold project in Alaska. The project’s owner, Northern Dynasty Minerals Ltd lost 12.5 percent to C$2.45 after initially jumping.

* Bombardier Inc gained nearly 1 percent to C$3.10. The plane and train maker said its joint venture in China had won a monorail contract worth $271 million and that it had also won a $238 million contract in Australia’s Melbourne.

* Advancing issues outnumbered declining ones on the TSX by 183 to 58, for a 3.16-to-1 ratio on the upside. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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