Coal Stocks Rise With TransCanada, Device Makers on Votes
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Medical device makers and coal stocks rose along with the company backing the Keystone XL pipeline on optimism a Republican-controlled Congress will back legislation easing taxes and regulation on the industries.
TransCanada Corp. advanced 2.6 percent as of 2:07 p.m. in New York as Democratic losses enhanced prospects for a vote on its pipeline. Peabody Energy Corp. gained 3.7 percent and Alpha Natural Resources Inc. added 8.8 percent on expectations that Republicans led by Mitch McConnell will oppose restrictions on coal. Device-maker Boston Scientific Corp. gained 0.8 percent.