TSX advances as Valeant, telecoms show strength

[riky]

TSX advances as Valeant, telecoms show strength

<p><a href="http://news.yahoo.com/tsx-may-open-higher-u-retail-sales-earnings-135016154--sector.html"><img src="http://l1.yimg.com/bt/api/res/1.2/ew1pnhB1zWiL6P4aRDnlSA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-01-14T135016Z_1_CBREA0D12FX00_RTROPTP_2_CBUSINESS-US-MARKETS-CANADA-STOCKS.JPG" width="130" height="86" alt="A general view of the TSX (Toronto Stock Exchange) Broadcast Centre in Toronto" align="left" title="A general view of the TSX (Toronto Stock Exchange) Broadcast Centre in Toronto" border="0" /></a>By John Tilak TORONTO (Reuters) - Canada's main stock index edged higher on Tuesday as Valeant Pharmaceuticals gained after a report indicated its interest in a unit of Pfizer Inc and telecoms shares rose after Globalive pulled out of a wireless auction. Valeant shares climbed after Reuters reported that the drugmaker had expressed interest in buying Pfizer's branded generics business. However, a decline in shares of Shaw Communications Inc , following the cable company's quarterly report, capped the gains. &quot;One of the game changers in 2014 could be macro risks fading and a global synchronized recovery emerging,&quot; said Paul Taylor, chief investment officer at BMO Asset Management, who sees the Toronto market benefiting from those trends.</p><br clear="all"/>

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