TSX slips as Valeant, CN Rail weigh [Business News Network (BNN) Energy & Resources (Canada)]
VALEANT PHARMACEUTICALS (VRX)
Last valeant pharmaceuticals earnings: 2/28 07:00 am
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US:NYSE Investor Relations:
ir.valeant.com
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Source: Business News Network
TSX slips as Valeant, CN Rail weigh TORONTO - Canada's main stock index edged lower on Wednesday, weighed by declines for Valeant Pharmaceuticals International Inc ( VRX.TO ) and Canadian National Railway Co ( CNR.TO ), while gold mining stocks were boosted by higher gold prices. The largest decliner on the index was Valeant, down 7.7 per cent, after Goldman Sachs gave the shares a "sell" rating. CN Rail fell 1.0 per cent to $99.09 after reporting a lower-than-expected adjusted profit for the fourth quarter, hurt by the heavy expenses its has incurred to grow its business. At 10:47 a.m. EST, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) fell 8.9 points, or 0.05 per cent, to 16,348.65. The financial services sector, which accounts for more than one-third of the index's weight, fell 0.3 per cent. Six of the index's 10 main groups lost ground. The materials group, which includes precious and base metals miners and fertilizer companies, added 1.6 per cent. Gold prices rea
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