TSX Rebounds, Up 1.3% With Most Sectors Positive; Miners, Energy, Post Largest Gains
The TSX is up 170 points this morning with all sectors bar healthcare in the green. The biggest gainers so far are miners, (+4.3%) and energy, (+1.84%), on higher commodities prices.
The US dollar is down this morning as investors look to the stock market for gains following Friday's lacklustre jobs figures from the world's largest economy.
Oil prices are up nearly 1.6% after Friday's report showing that that the number of active U.S. oil rigs fell for a fifth consecutive week, and reports saying Russia would be willing to discuss the oil market with fellow producers.
Suncor (SU.TO) today launched an unsolicited offer for Canadian Oil Sands (COS.TO). COS is up 46% and the most actively traded on the TSX.
Valeant (VRX.TO) shares are down 7% after remarks that Presidential hopeful Bernie Sanders is requesting to subpoena the company over alleged price gouging.
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