Canadian Stocks May Pause After 6-Month Highs -- Canadian Commentary

(RTTNews) - Canadian stocks are poised for a somewhat sluggish start to Friday's session, as commodities show signs of pausing from significant recent gains.

On Thursday, the S&P/TSX Composite Index was down 30.09 points, or 0.22 percent, to 13,881.20. The index recently touched its highest since last October.

Energy stocks will be in focus today as crude oil futures wobbled near their best levels of 2016. Also, there may be some profit taking in metals stocks after huge gains earlier in the week.

Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) is finalizing a contract to name Perrigo Co. (PRGO) Chief Executive Joseph Papa as its next CEO, the Wall Street Journal reported, citing people familiar with the matter.

Meanwhile amid rumors of a planned offer from Blackstone, Concordia Healthcare Corp. (CXRX, CXR.TO) said that it has formed a special committee to consider various strategic alternatives.

Cameco is cutting 500 jobs at the Rabbit Lake uranium mine. The company says low commodity prices have forced it to close the mine until further notice.