Stocks rise despite falling oil, lifted by health-care issues – CTV News

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The Canadian Press
Published Friday, May 27, 2016 12:16AM EDT
Last Updated Friday, May 27, 2016 2:44PM EDT

TORONTO – The Toronto stock market appeared poised to finish the trading week with a modest gain despite mixed commodity prices, including a small drop in the price of oil.

At mid-afternoon, the Toronto Stock Exchange’s S&P/TSX composite index was up 36.84 at 14,086.04, helped by a big jump in the shares of health-care giant Valeant Pharmaceuticals (TSX:VRX).

In commodities, benchmark North American crude oil was down 19 cents at US$49.29 a barrel, its third consecutive small decline in a week that it pop above US$50 a barrel in intraday trading. The commodity has not closed above US$50 since last July.

Elsewhere in commodities, July natural gas rose two cents to US$2.17 per mmBtu, while August gold slid $9.10 to US$$1,213.60 a troy ounce and July copper rose a penny to US$2.11 a pound.

The Canadian dollar fell 0.44 of a U.S. cent to 76.66 cents US, after a solid gain of just over one cent the previous two sessions.

South of the border, New York markets were also in the black heading into the U.S. Memorial Day holiday weekend amid a positive report on gross domestic product. The Dow Jones industrial average was up 11.44 points at 17,839.73, while the broader S&P 500 rose 3.69 points to 2,093.79 and the Nasdaq added 20.25 points to 4,922.02.