Valeant Pharmaceuticals and Energy Sector Boost TSX

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The Toronto Stock Exchange's S&P/TSX composite index, Canada's main stock index, hit 12,217.36 before closing at 12,178.38. Most of its main sectors advance; however, BlackBerry and gold producers declined.

BlackBerry dipped to Can$10.22, representing a decrease of 7.8%. This continuing decline was the result a disappointing quarterly report that the company released on Friday. Ratings and price target cuts then followed.

In addition, Barrick Gold Corp. dropped to Can$15.32, representing 7.7%. This was reflective of the slow construction of the South American Pascua-Lama gold project, which was already delayed.

At the other end of the spectrum, one of the major booster of the stock index was Valeant Pharmaceuticals. The drugmaker rose 4.8% after a raise in the price target of the stocks by RBC. The company significantly helped the healthcare sector achieve a 2.1% gain.

However, the biggest positive influence was made by the energy sector. This reflected the end of supply dilemma in the Middle East and Africa, which boosted oil prices.

Tags
Valeant Pharmaceuticals, Toronto Stock Exchange, BlackBerry, Barrick Gold Corp., South America, Energy Sector

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