Canadian Stocks Fall for Third Day as Valeant, Hudson’s Bay Drop
Canadian stocks fell for a third day, led by losses in Hudson’s Bay Co., Badger Daylighting Ltd. and ATS Automation Tooling Systems Inc.
All three stocks fell more than 2.8 percent. Valeant Pharmaceuticals International Inc. (VRX) fell 1.1 percent after a joint venture with Swedish drugmaker Meda AB. Tweed Marijuana Inc. increased 20 percent on its second day of trading.
The Standard & Poor’s/TSX Composite Index (SPTSX) slipped 30.11 points, or 0.2 percent, to 14,362.99 at 10:27 a.m. in Toronto. The benchmark index is up 5.4 percent for the year.
Oil and gas producing companies in the S&P/TSX fell 0.2 percent. Brent crude fell for the first time in three days after Libyan rebels surrendered control of two oil ports to the government, enabling the OPEC country to increase exports.
Industrial companies fell 0.8 percent, pulled down by declines in the country’s two major railroad stocks.
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