Canada Stocks: Energy and financials help lift Toronto market

Bausch Health Companies

17/05/2023 21:07

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      TSX ends up 0.3% at 20,296.43
    

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      Energy rises 1.4%; oil settles 2.8% higher
    

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      Financials advance 0.9%
    

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      Bausch Health jumps 24.1%
    

  
 (Adds details throughout, updates prices to close)
    By Fergal Smith
       May 17 (Reuters) - Canada's main stock index rose on
Wednesday, rebounding from its lowest intraday level in five
weeks, as energy and financial shares rallied.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended up 54.36 points, or 0.3%, at 20,296.43, after
earlier touching its lowest level since April 10 at 20,158.69.
    U.S. stock indexes also climbed, helped by a bounce in
regional bank stocks and optimism about a potential breakthrough
in the deadlock in Washington over the nation's debt limit.
    The Toronto market's energy sector rose 1.4% as oil  CLc1 
settled 2.8% higher at $72.83 a barrel, clawing back some recent
declines.
    Heavily-weighted financials advanced 0.9% and health care
was up 4.9%.
    Health care was boosted by a 24.1% jump in the shares of
Bausch Health Companies Inc  BHC.TO  after a ruling by a
Delaware court helped guard the patent for the company's
antibiotic drug for traveler's diarrhea.

 (Reporting by Fergal Smith in Toronto and Johann M Cherian and
Vansh Agarwal in Bengaluru; Editing by Pooja Desai and
Marguerita Choy)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446;))