Gains in oil and precious metals prices drove energy and gold mining stocks higher, while Valeant Pharmaceuticals International weighed heavily after delaying its earnings report.
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Canada’s main stock index rose on Monday as gains in oil and precious metals prices drove energy and gold mining stocks higher, while Valeant Pharmaceuticals International weighed heavily after delaying its earnings report.
The price of oil was higher after strong gains last week on increasing hopes the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatility.
Suncor Energy Inc advanced 2.2 per cent to $33.61 and Canadian Natural Resources gained 3 per cent to $28.22. The energy group climbed 1.8 per cent.
