TSX Extends Losing Skid, Miners Hammered -- Canadian Commentary

(RTTNews) - Canadian stocks continued to fall Tuesday, extending 5-week lows amid widespread weakness across most key sectors.

The S&P/TSX Composite Index dropped 70.99 points, 0.53 percent, to 13,411.63.

Embattled drug maker Valeant Pharmaceuticals (VRX.TO) updated its business outlook.

Michael Pearson, chairman and CEO of Valeant, says he feels "very good" about 2016 organic growth. Still, shares were down 2.1 percent.

First Quantum Minerals (FM.TO) lost 6.5 percent. The company reported earnings of $427 million in the third quarter, compared to $121 million in the same period last year. First Quantum also lowered its 2015 guidance for copper and gold.

Kinross Gold Corp. (K.TO) reported an adjusted loss of $23.9 million, or $0.02 per share, compared with adjusted earnings of $70.1 million, or $0.06 per share, in Q3 2014. Shares slipped 2 percent.