TSX Ekes Out Small Gain Despite Valeant Collapse -- Canadian Commentary

(RTTNews) - Canadian stocks nudged higher Monday, extending modest gains from the previous session even as troubled drug maker Valeant's woes worsened.

The S&P/TSX Composite Index rose 47.07 points, or 0.37 percent, to 12,844.76.

Valeant (VRX.TO) shares plunged 19 percent after the troubled drug maker confirmed it is under investigation by the SEC.

The Health Care Index dropped 5.5 percent, reflecting Valeant's downward spiral.

Gauges of Canada's other major sectors were in the green, however, despite weakness on Wall Street and in European markets.

Energy stocks rose 2 percent as crude oil prices rallied.

WTI oil settled up 3% for the day, rising to $33.75 a barrel on the New York Mercantile Exchange.

Prices have been rising since a 13-year low near $26 about a month ago.

Gold shares picked up 2.9 percent as bullion prices climbed on a weaker US dollar.

Markets are looking ahead to tomorrow's Canadian GDP data.