Bay Street Back From Break, Looks To Extend Win Streak -- Canadian Commentary

(RTTNews) - Canadian stocks are poised for modest gains as Bay Street gets back to work following the Christmas and Boxing Day break.

The S&P/TSX composite index gained 24.89 points Thursday, running its win streak to five sessions. Stocks have rebounded from 2-year lows, helped by gains among beaten down energy and mining shares.

This morning, WTI crude oil for February was up 20 cents at $37.10 a barrel, staying away from a recent 6-year low below $35.

Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) shares will be in focus after it was announced that chairman and chief executive officer Michael Pearson will be on a medical leave of absence, effective immediately.

Bombardier Commercial Aircraft (BBD_B.TO, BBD_A.TO) said Ethiopian Airlines has bought two additional Q400 turboprop airliners that will bring Ethiopian Airlines' Q400 aircraft fleet to a total of 19 aircraft. The transaction is valued at approximately $63 million.