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TSX Up 61 Points Mid-Afternoon; Miners, Telecom Lead Rally; Info Tech Remains Weak

The TSX was up nearly 61 points mid-afternoon to 14664.87, extending its earlier gain, as investors cheered the most recent manufacturing data from China that showed the second largest economy is regaining momentum.

Canada's trading partner reported manufacturing PMI for May of 50.8 (versus 50.4 in April). As a result, mining and energy shares rose 1.1% and 0.6%, respectively.

The major sectors were generally higher, with telecom leading with a 1.2% gain. Financials were up 0.3%, and industrials jumped 0.7%. Healthcare climbed 0.6%, with Valeant Pharmaceuticals (VRX.TO) up almost 2% after saying it is considering going hostile with its bid for Allergan ( AGN ).

Info tech remained as the only sector in the negative territory, losing 0.8%.

More than 160 million shares have changed hands so far. There were 817 advancers and 696 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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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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