Canadian Stocks Rise After Valeant Shake Up -- Canadian Commentary

(RTTNews) - Canadian stocks snapped back Monday amid higher crude oil prices and signs of a comeback for troubled drug maker Valeant.

Gauges of all but the mining sector were in the green, as Canada remained one of the world's best performing equities markets.

The S&P/TSX Composite Index was up 64.02 points, or 0.47 percent, to 13,561.09, moving back toward a recent 3-year high.

The Health Care Index jumped 4.4 percent. Valeant (VRX.TO) rallied 8 percent on news that its CEO Michael Pearson is leaving and investor Bill Ackman will join the board.

Penn West Petroleum Ltd. (PWE, PWT.TO) has sold its properties in the Slave Point area of Northern Alberta for $148 million.

Energy stocks posted modest gains even as crude oil held near $40.

April WTI oil was up 47 cents, or 1.2 percent, to settle at $39.91/bbl.