Toronto stock index higher as Valeant Pharmaceuticals shares surge

The Canadian Press</span>
Published Friday, September 29, 2017 12:33AM EDT
Last Updated Friday, September 29, 2017 11:34AM EDT

TORONTO - The Toronto stock index is trading higher this morning, led by the health-care sector and rising shares of Valeant Pharmaceuticals Inc.

The S&P/TSX composite index was up 50.32 points to 15,668.57, after 90 minutes of trading.

Valeant stock (TSX:VRX) was trading nearly six per cent higher following its announcement of the sale of its iNova Pharmaceuticals business for $930 million in cash.

In New York, the Dow Jones industrial average was down 16.78 points to 22,364.42. The S&P 500 index edged up 4.03 points to 2,514.09 and the Nasdaq composite index added 21.16 points to 6,474.61.

The Canadian dollar was trading at 80.02 cents US, down from Thursday's average price of 80.32 cents US.

In commodities, the November crude contract was down 12 cents to US$51.44 per barrel and the November natural gas contract was up three cents at US$3.02 per mmBTU.

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