Canada's main stock index added to its record highs on Tuesday, boosted by a jump in the shares of Valeant Pharmaceuticals International Inc (VRX.TO) after the company's earnings beat estimates, while some energy shares also climbed.

Valeant soared 17.2 per cent to $18.09 after it reported a forecast-beating quarterly profit on the strength of its Bausch and Lomb eye-care business. Health care stocks leaped nearly four per cent.

The most influential movers on the index also included some oil stocks, with Suncor Energy (SU.TO) advancing 1.6 per cent to $46.08 and TransCanada Corp (TRP.TO) gaining 1.4 per cent to $62.60.

Still, the overall energy index dipped 0.1 per cent as oil prices settled lower after rising to the highest since July 2015 the previous day.

The Toronto Stock Exchange's S&P/TSX composite index closed up 39.59 points, or 0.25 per cent, at 16,131.79, a record-high close.

The index has soared nearly eight per cent since September, helped by stronger corporate earnings and optimism about the outlook for the global economy.

"I think the cyclical aspect still has some legs to run," said Noman Ali, senior portfolio manager on the Canadian growth team at Manulife Asset Management. "If we do get any kind of tax reform in the U.S. that's generally positive for the U.S. and the global economy. There is still room for upside."

The financial services sector, which accounts for about a third of the index's weight, gained 0.1 per cent, while telecoms added 0.7 per cent.

Six of the index's 10 main groups ended higher.

Industrials rose 0.2 per cent, with Finning International Inc (FTT.TO) advancing 1.4 per cent to $31.96 after it reported third-quarter results that surpassed expectations.

Tahoe Resources Inc (THO.TO) tumbled 7.8 per cent to $5.67 after the company reported a quarterly loss, with some investors remaining concerned about the uncertainty around its growth plans and its Escobal mine.

Torex Gold Resources Inc (TXG.TO) slumped 18.9 per cent to $14.15 after staff at a mine which is producing gold for the company in Mexico were evacuated after suffering threats.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.2 per cent.