(Updates prices)
* TSX up 18.95 points, or 0.15 percent, at 12,816.74
* Eight of the TSX's 10 main groups rise
TORONTO, Feb 29 (Reuters) - Canada's main stock index rose
on Monday as gains in oil and precious metals prices drove
energy and gold mining stocks higher, while Valeant
Pharmaceuticals International VRX.TO weighed heavily after
delaying its earnings report.
The price of oil was higher after strong gains last week on
increasing hopes the market has bottomed out and as OPEC kingpin
Saudi Arabia said it would work with other producers to limit
oil market volatility. O/R
Suncor Energy Inc SU.TO advanced 1.1 percent to C$33.26
and Canadian Natural Resources CNQ.TO gained 1.4 percent to
C$27.77. The energy group climbed 1.2 percent.
Gold was on track for its biggest monthly gain in four
years, as the precious metal rediscovers its role as a shelter
for risk-averse investors in the face of tumbling equities and
fears of a global economic slowdown. GOL/
Barrick Gold Corp ABX.TO advanced 1.7 percent to C$18.58,
Goldcorp Inc advanced 1.3 percent to C$18.97.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 1.1 percent.
Eight of the index's 10 main groups were higher, with
advancers outnumbering decliners by almost 4-to-1.
Still, by 10:03 a.m. EST (1503 GMT), the Toronto Stock
Exchange's S&P/TSX composite index .GSPTSE was only up 18.95
points, or 0.15 percent, at 12,816.74.
The most influential weight on the index by far was Valeant,
which fell 7.9 percent to C$101.18 after the drug company said
its CEO would return from medical leave effective immediately,
and it postponed the release of fourth-quarter results planned
for Monday.
The healthcare sector fell 2.4 percent, while the financials
group slipped 0.1 percent.