Canada Stocks Close Higher; All Sectors Climb; Valeant In The News

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Canada stocks recovered after their worst weekly drop since June, closing Monday up 120.98 points at 14,654.9. The market was boosted by higher commodity prices after Beijing outlined a broad range of capital-market reforms on Friday, a move seen by some market watchers as a sign the country will widen market access - and increase demand for Canadian commodities.

Among sectors Metals and Mining was the strongest performing climbing more than 3.8%.

Among commodities, comex gold for June delivery settled up 0.6% at US$1,295.80 per ounce on the Comex division of the New York Mercantile Exchange. And July silver gained more than 2 to $19.543 an ounce.

In news, U.S. drugmaker Allergan on Monday rejected Valeant Pharmaceuticals International Inc's (VRX.TO, VRX) US$47 billion takeover offer, citing proposed high cost cuts as a primary reason.



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This article appears in: Investing , Commodities

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