By David George-Cosh Stock Market Quotes, Business News, Financial News from http://commodity-market-news.com
TORONTO–Canadian stocks advanced Tuesday, led primarily by a strong performance in the health-care and consumer-staples subsectors.
The S&P/TSX Composite Index rose 45.61 points, or 0.31%, to 14,801.23, and advances led declines 932 to 674. Trading volume was 321.8 million shares, down from 341.2 million Monday.
The blue chip S&P/TSX 60 Index gained 4.27 points, or 0.5%, to 860.74.
The Toronto Stock Exchange’s health-care subsector was led primarily by pharmaceutical giant Valeant’s fiscal second-quarter with the company posting another quarterly loss but adding that it plans to reorganize and sell some noncore assets to reduce its debt load. That pushed Valeant shares up a whopping 25% on Tuesday.
Meanwhile, Toronto’s financial group was up 0.39% following a strong showing by major Canadian banks. National Bank rose 1.2% while CIBC was up 0.9%.
The consumer staples group was up 0.9%, led by Canadian grocer Empire Co.’s 2.4% rise and Restaurant Brands International’s 1.2% gain.
Write to David George-Cosh at david.george-cosh[a]wsj.com
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