Valeant Leads TSX Higher After CFO Coup -- Canadian Commentary

(RTTNews) - Canadian stocks rose Monday, led by Valeant and consumer staples stocks.

The S&P/TSX Composite Index continued to show a lack of direction since hitting yearly highs early this month.

The TSX was up 60.73 points, or 0.41 percent, to 14,748.19.

Valeant (VRX.TO) shares soared 9.7 percent after the drug maker managed to hire Zoestis exec Paul Herendeen as CFO.

Energy stocks were down a bit, following oil prices lower.

Oct. WTI oil finished at $47.41/bbl, down $1.70, or 3.5 percent.

A report from Baker Hughes showing an unexpectedly large build in US rig count activity contributed to the drop in oil prices.