Wed Jun 25, 2014 4:39pm EDT

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* TSX up 12.28 points, or 0.08 percent, 14,974.65 * Five of 10 main index sectors advance * Valeant jumps after calling for special meeting By John Tilak TORONTO, June 25 (Reuters) - Canada's main stock index waslittle changed on Wednesday as gains in shares of energyproducers and Valeant Pharmaceuticals helped overcomethe impact of data showing a bigger-than-expected drop in U.S.economic growth in the first quarter. Figures indicated the U.S. economy recorded its worstperformance in five years in the quarter. The market also setaside worries about the situation in Iraq. Militants attackedone of Iraq's largest air bases and seized control of severalsmall oilfields. The Toronto market, which hit a record closing high lastweek, is up about 10 percent so far in 2014. Most of the gainshave come from the energy sector, which is up about 21 percentsince the start of the year. "The increased geopolitical concerns seem to be helpingcommodities this month," said Youssef Zohny, portfolio managerat Stenner Investment Partners, a subsidiary of Richardson GMP. "The TSX has had a very good run this year," he added. "Weexpect it to continue to outperform other global markets, butit's likely vulnerable to some profit-taking in the short term." The Toronto Stock Exchange's S&P/TSX composite index closed up 12.28 points, or 0.08 percent, at 14,974.65.Five of the 10 main sectors on the index were higher. Energy shares climbed 0.2 percent, supported by higher U.S.crude oil prices. Suncor Energy Inc added 0.3 percent toC$44.70, and Canadian Natural Resources Ltd rose 0.6percent to C$48.25. The industrial sector advanced 0.3 percent. CanadianNational Railway Co gained 1.1 percent to C$68.04, andCanadian Pacific Railway Ltd added 0.9 percent toC$191.58. In corporate news, Valeant said it had called a specialmeeting for its shareholders to approve the issue of new shares,another step in its pursuit of Botox maker Allergan Inc.Valeant shares jumped 4.3 percent to C$134.93. ($1=$1.07 Canadian) (Editing by Peter Galloway and Meredith Mazzilli)
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