Toronto stock in­dex gains as health-care sec­tor ad­vances, loonie weak­ens

Cape Breton Post - - Business -

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.

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