Canada Stocks Rise Most in a Month as Valeant, Banks Rise
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Canadian stocks rose the most in five weeks, as Valeant Pharmaceuticals International Inc. climbed to a record on deal news and the nation’s largest lenders led a rally in financials shares.
Valeant gained 2.5 percent after boosting its offer for Salix Pharmaceuticals Ltd., besting rival Endo International Plc. Alimentation Couche-Tard Inc. increased 2.4 percent after agreeing to buy 21 stores in the U.S. SouthGobi Resources Ltd. rose 3.6 percent after its chief executive officer resigned. Canadian Oil Sands Ltd. and Pacific Rubiales Energy Corp. slumped more than 6.4 percent as oil fell to a six-year low.