TSX Flat To End Jittery Week -- Canadian Commentary


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(RTTNews.com) - Canadian stocks ended a topsy turvy week with an uneven performance Friday, as the energy sector withstood a big drop in crude oil prices. Markets were relatively calm ahead of a French presidential election seen as a referendum on the European Union.

The TSX Composite was down 11 points to 15,614.48, stung by weak financials and a rough outing for Valeant Pharma.

June WTI oil was down $1.09, or 2.2%, to settle at $49.62/bbl, the lowest since late March. The June contract, which kicked in as front-month contract yesterday, was down 7.4% for the week.

Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) has priced its psoriasis injection at $3,500 per month. Shares dropped 3.6 percent.

SNC-Lavalin Group (SNC.TO) is buying WS Atkins plc (ATK.L) for C$3.6 billion. Shares were up 2.2 percent.

A labradoodle named Cooper was put on a WestJet (WJA.TO) plane to Hamilton instead of Newfoundland by mistake. Shares slipped 1.8 percent.

In economic news, Canada's Consumer Price Index rose 1.6% on a year-over-year basis in March, following a 2.0% increase in February. On a seasonally adjusted monthly basis, the Consumer Price Index was down 0.2% in March, after decreasing 0.3% in February.

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This article appears in: Stocks , World Markets , Politics
Referenced Symbols: VRX


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