BS: Canadian Stocks Gain as Gold Futures Advance Most in Eight Days
By Matt Walcoff
June 17 (Bloomberg) -- Canadian stocks rose for a sixth day, led by gold producers, as investors continued to seek precious metals in a flight to safety.
Barrick Gold Corp., the world’s largest gold producer, gained 2.5 percent as the metal advanced the most in eight days. Canadian Natural Resources Ltd., the country’s second-biggest energy company by market value, increased 0.5 percent as natural gas climbed on forecasts for hot weather in the U.S.
The Standard & Poor’s/TSX Composite Index rose 28.15 points, or 0.2 percent, to a one-month intraday high of 11,949.20 at 9:42 a.m. in Toronto.
The Reuters/Jefferies CRB Commodity Price Index has gained nine straight days, the longest streak in five years, as oil and copper have rallied on data indicating an economic recovery is taking hold in the U.S. and Asia. Energy and raw-materials companies make up 46 percent of Canadian stocks by market value.
--Editor: Joanna Ossinger
To contact the reporter on this story; Matt Walcoff in Toronto at mwalcoff1@bloomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.
