Toronto stock index gains as health-care sector advances, loonie weakens
TORONTO — Toronto’s main stock index moved up on the strength of its health-care sector as Valeant Pharmaceuticals International Inc. rose nearly seven per cent.
The Toronto Stock Exchange’s S&P/TSX composite index gained 44.02 points to 15,619.65.
Valeant (TSX:VRX) shares jumped 6.73 per cent or 89 cents to $14.11 on the day of the company’s annual general meeting, which CEO Joseph Papa said marked the first day of a new era for the embattled drugmaker.
In New York, the Dow Jones industrial average rose 36.43 points to 20,949.89, the S&P 500 index advanced 2.84 points to 2,391.17, and the Nasdaq composite index added 3.77 points to a recordhigh 6,095.37.
The average value for the Canadian dollar was 72.89 cents US, down 0.32 of a cent from Monday.
The June crude contract lost $1.18 to US$47.66 per barrel, while the June gold contract rose $1.50 to US$1,257.00 an ounce.
The June natural gas contract fell two cents to about $3.20 per mmBTU and the July copper contract declined 2.5 cents to roughly US$2.64 a pound.