BLBG: Canadian Stocks Gain as U.S. Jobless Claims, U.S. Dollar Fall
By Matt Walcoff
March 25 (Bloomberg) -- Canadian stocks rose after the U.S. reported fewer new unemployment claims than economists expected and oil and gold futures gained on a weaker U.S. dollar.
Canadian Natural Resources Ltd., the country’s second- largest energy company by market value, increased 0.7 percent as crude advanced. Clothing maker Lululemon Athletica Inc. surged 11 percent after its fourth-quarter profit topped analyst estimates. Barrick Gold Corp., the world’s largest producer of the metal, climbed 0.7 percent as gold rebounded from a one- month low.
The Standard & Poor’s/TSX Composite Index rose 75 points, or 0.6 percent, to 12,037.97 at 9:39 a.m. in Toronto.
The benchmark index has gained less than 2.5 percent this year as the U.S. dollar has advanced 5.1 percent, holding back commodity prices. Energy and raw-materials companies make up 44 percent of Canadian stocks by market value.
To contact the reporter on this story: Matt Walcoff in Toronto at mwalcoff1@bloomberg.net
