TSX Flat As Gold Losses Weigh -- Canadian Commentary

(RTTNews) - Canadian stocks finished a strong week on a lackluster note Friday, as falling gold stocks pulled Toronto's main index from recent 6-month highs.

The S&P/TSX Composite Index was down 7.20 points, or 0.05 percent, to 13,874. Gains in the energy and health care sectors prevented a bigger decline.

Energy stocks rose 1.4%. June WTI oil settled at $43.73/bbl on Nymex, up 55 cents, or 1.3%. Oil was up 8% for the week.

On the other hand, gold shares lost 2.3%. June gold settled at $1,230/oz on Comex, down $20.30, or 1.6%, for the day.

Saputo (SAP.TO) President And COO Dino Dello Sbarba retired. Shares rose 2 percent.

Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) is finalizing a contract to name Perrigo Co. (PRGO) Chief Executive Joseph Papa as its next CEO, the Wall Street Journal reported, citing people familiar with the matter.

Shares rose 7.1 percent.

Meanwhile amid rumors of a planned offer from Blackstone, Concordia Healthcare Corp. (CXRX, CXR.TO) said that it has formed a special committee to consider various strategic alternatives. Concordia rose 5.9 percent.

Cameco is cutting 500 jobs at the Rabbit Lake uranium mine. The company says low commodity prices have forced it to close the mine until further notice.