Markets

TSX Up 37 Points at Midday, Buoyed by Healthcare; Resources Down As Commodities Weigh

Canada's benchmark index is in the positive territory for a second straight session, gaining 37 points at midday, amid easing tensions in Ukraine and Russia. Healthcare shares provided support, offsetting weaknesses in mining and energy issues.

Recent reports said Russia has sent aid mission to eastern Ukraine, with a huge convoy of food and medicine setting off from outside Moscow. Ukrainian officials, however, have set conditions before allowing the convoy to enter eastern Ukraine, including passing through a government-controlled border post and getting certification from Red Cross.

At home, healthcare stocks were up 0.80%, led by Valeant Pharmaceuticals (VRX.TO) that rose 1% after getting a request from the Federal Trade Commission under the Hart-Scott-Rodino Act for more information regarding its proposed acquisition of Botox maker Allergan. Financials were also gaining, up 0.36%.

On the other hand, mining and energy issues were down 0.12% and 0.54%, respectively, following a drop in copper and crude oil prices . Info tech was the biggest loser, falling 0.74%.

So far, more than 130 million shares have changed hands. Legacy Oil (LEG.TO) was the most heavily traded stock.

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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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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