TSX hits another high as pot stocks fall after U.S. Attorney General report + MORE Jan 4th

TORONTO _ It was another record close for Canada’s main stock index despite a sharp drop in the health-care sector which includes some of the country’s biggest marijuana companies.
The S&P/TSX composite index was up 41.39 of a point to 16,412.94, gaining ground throughout the day after flatlining shortly after markets opened.
Cannabis stocks were pummelled after The Associated Press reported that U.S. Attorney General Jeff Sessions will rescind an Obama-era policy that generally barred federal law enforcement officials from interfering with marijuana sales in states where pot is legal.
South of the border, Wall Street indexes also hit all-time highs as the Dow Jones industrial average climbed 152.45 points to 25,075.13. The S&P 500 index added 10.93 points to 2,723.99 and the Nasdaq composite index advanced 12.38 points to 7,077.92.
The Canadian dollar closed at an average trading value of 79.90 cents US, up 0.11 of a U.S. cent.
In commodities, the February crude contract gained 38 cents to US$62…

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It was another record close for Canada’s main stock index despite a sharp drop in the health-care sector which includes some of the country’s biggest marijuana companies.

EDMONTON _ Aurora Cannabis Inc. has signed a deal to form a joint venture with European greenhouse vegetable company Alfred Pedersen & Son (APS).
Under the deal, Aurora (TSX:ACB) will own a 51 per cent interest in Aurora Nordic Cannabis A/S, based in Odense, Denmark.
APS received its license to grow cannabis from Denmark’s Medicines Agency effective Jan. 1.
The joint venture will focus on the cultivation and sales of cannabis in Denmark, Sweden, Norway, Finland and Iceland.
Aurora Nordic plans to build a 93,000-square-metre automated cannabis production facility.
Under the terms of the joint venture, the companies intend to fund construction through a combination of conventional, non-dilutive financing and direct investment by Aurora and APS.
The post Aurora signs deal for European joint venture with greenhouse vegetable company appeared first on Canadian Business – Your Source For Business News.

Five of the TSX’s 10 main groups ended higher. It touched an all-time intraday high of 16,421.42 earlier in the session.