TSX Cracks 16,000 For First Time, High On WEED -- Canadian Commentary

(RTTNews) - Canadians stocks continued to rise Monday, with the S&P/TSX Composite Index touching 16,000 for the first time ever.

The TSX Composite was up 49.27 points to 16,002.78.

Among the day's big winners was Canopy Growth (WEED.TO), as the Canadian marijuana company went mainstream with an investment from beverage giant Constellation Brands.

The investment is expected to approximate C$245 million representing an ownership interest of 9.9% of Canopy Growth, plus warrants which give Constellation Brands the option to purchase an additional ownership interest in the future.

WEED shares surged up 17%.

TELUS International (T.TO, TU) plans to acquire Xavient Information Systems, an IT consulting and software services company, for $250 million. Shares rose 0.3%.

Cenovus Energy Inc. (CVE.TO, CVE) announced the appointment of Alex Pourbaix as President & CEO and member of the Board, effective November 6. He replaces Brian Ferguson. Shares were down fractionally.