Markets

TSX Climbs 156 Points at Midday As Healthcare, Energy Lead Rally

The TSX was ahead by 156 points at midday after giving back some of its earlier gains, boosted by energy and healthcare shares.

In the news was Valeant Pharmaceuticals (VRX.TO), which rallied more than 14% recently on the back of a new agreement with Walgreens for the sale of its dermatological and ophthalmological products at a discount in more than 8,000 branches of the drug retailing chain. The drug maker was under fire for the questionable business practices of its former affiliate Philidor.

Meanwhile, oil prices remained strong, following news that OPEC may hold emergency meetings should prices fail to recover. Brent crude was last up 1.6% at US$38.53/barrel, while the WTI crude rose 2.3% to US$37.14/barrel.

The healthcare and energy groups led advancing 3.72% and 1.68%, respectively. Miners were up by 0.32%, while financials gained 1.01%.

Total volume traded so far reached 157.2 million shares. Caza Oil & Gas (CAZ.TO) was the most actively 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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