CANADA STOCKS-TSX advances as Valeant, telecoms show strength

    * TSX rises 10.90 points, or 0.08 percent, to 13,692.38 
    * Six of 10 main index sectors advance 
    * Valeant is market's biggest positive influence 
    * Shaw slips after quarterly report 
 
    By John Tilak 
    TORONTO, Jan 14 (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.    
    Investors were also encouraged as a gauge of U.S. consumer 
spending rose more than expected in December, indicating greater 
momentum for the world's biggest economy and lifting sentiment. 
   
    However, a decline in shares of Shaw Communications Inc 
  , following the cable company's quarterly report, 
capped the gains. 
    Tuesday's modest advance was the benchmark index's fifth 
positive session in the last six trading days. 
    "One of the game changers in 2014 could be macro risks 
fading and a global synchronized recovery emerging," said Paul 
Taylor, chief investment officer at BMO Asset Management, who 
sees the Toronto market benefiting from those trends. 
    Taylor, who expects the TSX to perform in sync with U.S. 
stocks this year, said the index could end 2014 at around 
14,500. 
    The Toronto Stock Exchange's S&P/TSX composite index 
   closed up 10.90 points, or 0.08 percent, at 13,692.38. 
    Six of the 10 main sectors on the index were higher. 
    The telecoms group added 0.6 percent as Globalive's decision 
to stay out of a wireless auction boosted the big players. 
Rogers Communications    gained 1.7 percent to C$47.86, 
Telus Corp    advanced 0.6 percent to C$37.03, and BCE Inc 
   rose 0.7 percent to C$46.72.    
    Valeant jumped 4 percent to C$147.51 and had the biggest 
positive influence on the market. The move also helped push the 
healthcare sector up 1.3 percent. 
    Gold-mining shares gave back 1.2 percent. Goldcorp Inc 
   shed 2.6 percent to C$24.34, and Barrick Gold Corp 
   lost 1.2 percent to C$19.49. 
    Shaw shares slipped 1.7 percent to C$24.88 after the company 
posted a 4 percent rise in first-quarter profit but said it 
continued to lose customers in its main cable television 
business.    
     
 
 (Editing by Bernadette Baum and Meredith Mazzilli) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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