TSX Ticks Up 39 Points at Midday As Weak Energy Limits Climb; Miners, Healthcare Strongest
The TSX remained positive at midday, ticking up 39 points to 15,228.08, boosted by strong gains in the mining and healthcare groups, ahead of the release of the FOMC statement later in the day on its policy meeting. But the rally was limited by sharp losses in energy stocks.
The benchmark index could have been higher if not for the declining crude oil prices that resulted in a 1.62% drop in energy shares. Brent crude fell almost 4% below US$57-per-barrel levels against the backdrop of record-high U.S. stockpiles and Saudi Arabia March output.
The rest of the major groups were in the positive territory, led by mining and healthcare. Miners advanced 1.61% despite lower gold and copper prices , while healthcare surged 1.90% on the back of a 3.19% rise in Valeant Pharmaceuticals (VRX.TO). Financials were up by only 0.48%.
Total volume traded so far reached 147.6 million shares.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.