TSX Crawling Toward All-Time Highs, Led By Energy Stocks -- Canadian Commentary

(RTTNews) - Canadian stocks inched a bit higher Monday morning, led by modest strength in the energy sector.

The S&P/TSX Composite Index was up 22 points, or 0.15 percent, at 14,861.05, edging closer to an all-time high above 15,000 set back in 2008.

The index closed Friday at 14,838.90, up 38.72 points or 0.26 percent.

Energy stocks are up 0.30 percent, even as crude oil futures gave up most of their early gains and drifted below $103 a barrel.

Financials rebounded following a weak start, and have edged into positive territory, but miners remain lower amid falling copper prices.

In corporate news, the U.S. FDA has approved Valeant Pharmaceuticals (VRX, VRX.TO) New Drug Application or NDA for Jublia, a topical triazole antifungal agent, for treating Onychomycosis, a type of nail infection.

Valeant shares are down 0.4 percent.

Shareholders of medical isotope supplier Nordion Inc (NDN.TO) voted on Friday to support a friendly $805 million takeover offer by U.S.-based Sterigenics International. Nordion shares are unchanged.

SNC-Lavalin Group (SNC.TO) had its price target raised by RBC to C$60 from C$57. The stock is up 0.55 percent.

Big gainers this morning include Northern Dynasty Minerals (NDM.TO), up 10 percent, and Tekmira Pharmaceuticals (TKM.TO), up 9.4 percent.