TSX Flat at Midday, Up 22 Points, Miners Biggest Loser As Copper Weighs
The benchmark Canadian index was up by a measly 22 points at midday to 14703.11, with rising crude oil and natural gas prices supporting energy shares. Gains, however, were limited by mining shares after copper prices fell.
Mining was the weakest sector, down 1.3%, with copper prices dropping 1%. B2Gold (BTO.TO), down 7%, was the most actively traded stock. Healthcare was the second biggest loser after tumbling 1.1%, with Valeant Pharmaceuticals (VRX.TO) down nearly 2% on news its partner in the Allergan bid, Bill Ackman, decided to pursue a proxy fight with the NYSE-listed Botox maker.
In the positive territory, financials and telecom were in the lead, both with a 0.4% gain. Energy was up 0.3%, boosted by crude oil and natural gas that were higher by 0.2% and 0.8%, respectively.
More than 120 million shares have changed hands so far. There were 682 advancers and 684 decliners.
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