TSX Edges Up 7 Points Mid-Afternoon; Miners Turn Negative, Healthcare Widens Loss


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The TSX edged higher by 7 points mid-afternoon to 14878.39, a slight improvement compared to midday, but healthcare stocks continued to limit the benchmark index's rally.

Healthcare was down by 0.87%, leading the broad decline, after Valeant Pharmaceuticals (VRX.TO) slipped 1% on news its takeover target Allergan ( AGN ), once again, rejected its offer to buy the Botox maker. Info tech, down 0.42%, was the second biggest loser.

Meanwhile, mining stocks, which were the biggest gainer at midday, swung to a 0.02% loss mid-afternoon despite rising gold prices . Energy was still in the red, down by 0.19%, with crude oil and natural gas prices falling 0.34% and 2.37%, respectively.

Only telecom and financials were in the green, up 0.22% and 0.07%, respectively.

Northland Wealth Management Portfolio Manager David Cockfield reportedly said the TSX would continue to edge higher, even hitting the 15,000 mark at some point, but would go through a possible correction.

More than 167 million shares have changed hands so far. There were 740 advancers and 805 decliners.

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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