TSX Jumps 130 Points Despite Plunging Crude Oil Prices -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Monday, with crude oil prices at their lowest in six years doing little to dent energy stocks.

Investors appear to have shrugged off some disappointing U.S. economic data as they await the results of the Federal Reserve's monetary policy meeting on Wednesday.

The S&P/TSX Composite Index was up 131.27 points, or 0.89 percent, to 14,862.76. Consumer stocks led the way, while health care, industrials and tech stocks also seeing strength.

Energy stocks were off only 0.23 percent. U.S. crude futures settled down 96 cents at $43.88, having touched a 2009 low below $43 earlier in the session.

Canadian Oil Sands (COS.TO) dropped 6.5 percent, while Precision Drilling lost 5 percent.

Mining stocks also struggled, but a few miners outperformed, including Osisko Gold (OR.TO) up 3 percent.

Barrick Gold (ABX.TO) may put its Chilean copper mine on the block, according to Financial Times. The stock lost 0.66 percent.

Ensign Energy Services (ESI.TO) is climbing by 3.43 percent. The company reported fourth quarter adjusted net income of C$0.29 per share. Analysts expected earnings per share of C$0.24.

Valeant Pharmaceuticals International (VRX.TO) rose 2.4 percent. Valeant won a bidding war with rival Endo and will pay $11.1 billion for Salix.