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TSX Extends Earlier Rally, Up 57 Points at Midday; Financials, Industrials In The Lead

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The Canadian benchmark index was up by 57 points at midday at 14895.87 in continuation of its earlier rally, with financial and industrial stocks driving gains.

The financial and industrial sectors were both higher by 0.59%. Energy came in second, up 0.58%, boosted by crude oil prices that went up 1.41% to US$104.11 a barrel. Sun Life Chief Investment Officer Sadiq Adatia, however, reportedly said: "The valuations are extended. We're at a point where I would be a bit nervous on the TSX side of things."

In the negative zone, healthcare was the weakest sector, down 0.35%, with Valeant Pharmaceuticals (VRX.TO) slipping by 0.68% despite getting the U.S. FDA's approval for the Jublia nail infection treatment. Miners shed 0.02%, hurt by falling copper prices .

More than 101 million shares have changed hands so far. There were 808 advancers and 601 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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