TSX Close: TSX Finishes Higher as Gold Producers and Health Care Companies Rise

By MidnightTrader.com Staff,

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The Toronto stock market closed modestly higher on Monday in the wake of rising gold stocks and a major deal in the health care sector.

The S&P TSX Composite Index finished 29 points higher at 12,696, just short of session highs of 12,703.

The health care sector led advancers with a 2% gain after Valeant Pharmaceuticals (VRX.TO) announced an $8.7 billion deal to purchase Bausch & Lomb. Valeant shares gained 10% in heavy trading.

Gold stocks were also higher as the price of gold futures climbed 0.5%, adding to last week's gains. New Gold (NGD.TO) was up 0.3% while San Gold (SGR.TO) surged 18%.

Crude oil prices declined for a fifth day, falling 0.6% to $93.61 a barrel.

TSX trading volume was slower than usual with U.S. markets closed for a holiday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
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