BLBG: Canada Stocks Gain as Rising Gold, Oil Lift Commodity Producers
Canadian stocks climbed for a sixth day as rising prices for gold and crude oil boosted mining and energy companies. Financial shares fell.
Barrick Gold Corp. gained 3.4 percent as gold advanced in London on speculation the deteriorating global economy will lift demand for the metal as a store of value. Suncor Energy Inc., the second-biggest oilsands producer, added 2.3 percent. Sun Life Financial Inc., Canada’s third-largest insurance company, dropped 2.1 percent.
The Standard & Poor’s/TSX Composite Index rose 0.6 percent to 9,104.28 at 9:46 a.m. in Toronto as 113 stocks gained and 90 declined. The main benchmark for Canadian stocks has added 1.3 percent in 2009, making it the only index among the world’s 10 biggest developed markets to post a gain this year.
