Pot boosts Toronto stocks

Image: Contributed

Canada’s main stock index was up in late-morning trading amid gains in the health-care sector.

The S&P/TSX composite index was up 42.97 points to 16,351.15, after 90 minutes of trading.

The increase came as shares of licensed marijuana producer Aphria Inc. gained more than 15 per cent as it climbed $2.97 to $20.99 on the Toronto Stock Exchange.

Aphria announced before markets opened an agreement to acquire Broken Coast Cannabis Inc., in a deal it valued at $230 million in stock and cash.

The Canadian dollar was trading at 80.52 cents US, up from an average price of 79.97 cents US on Friday.

U.S. markets are closed on Monday for Martin Luther King, Jr. Day.