Canadian stocks are higher today, with the S&P/TSX Composite
Index climbing about 50 points, or 0.4%, on higher financial
stocks, but down around 20 points from its best levels of the
session on mixed miners.
Healthcare stocks are again pacing today's advance, rising
nearly 2% as a group. Extendicare (EXE.TO) is up 2% this afternoon
as traders and investors continue to digest the details from last
week of its plan to split its U.S. and Canadian businesses into
separate companies, its first quarter results and some senior
Also today, pharmacy benefits manager Catamaran Corp
(CCT.TO,CTRX) is up nearly 3% while drug-maker Valeant
Pharmaceuticals International Inc (VRX.TO, VRX) is holding on to a
2% gain and has hit new 52 week highs.
Industrial stocks are posting strong gains, largely due to a 3%
rise and new 52 week high for Canadian Pacific Railway Ltd (CP.TO,
CP) and a 1.3% move higher for rival Canadian National Railway Co
Those gains also are working to offset a 11% decline to new year
lows for Chorus Aviation Class B (CHR-B.TO) shares after the
regional airline late yesterday posted a smaller-than-expected Q1
profit and halved its quarterly dividend to $0.075 per share from
$0.15. CIBC World markets today cut it rating for CHR-B.TO to the
equivalent of Sell from Hold.
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