Markets

TSX Swings to Loss, Down 4 Points at Midday; Healthcare Leads Gainers, Miners Weakest Sector

The Canadian main stock index turned negative at midday, slipping 4 points to reach 14651.19, with gold and copper prices falling 0.01% and 0.6%, respectively.

Also weighing on the market were economic data from Canada's trading partners, U.S. and China. The world's largest economy reported retail sales barely rose in

April, while the Asian giant showed even more signs of a slowdown in its economy, with data from output to investment and consumption missing expectations.

Mining was the weakest sector at midday, down 0.7%. Industrials and utilities followed, both off 0.3%. The heavyweight financial sector was down 0.1%.

In the positive territory, healthcare was the biggest gainer, up 0.4%, with Valeant Pharmaceuticals (VRX.TO) edging up 0.5% on news it is sweetening its bid for drugmaker Allergan Inc. Telecom came in second, up 0.3%. Energy gained 0.2%, with crude oil prices rising 0.8% to above $100 levels.

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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