BLBG: Canadian Stocks Rise as Commodities Gain on China Export Data
Canadian stocks rose for a third day as resource companies advanced after China’s exports jumped more than forecast last month.
Cenovus Energy Inc. and Suncor Energy Inc. added at least 0.4 percent as crude rose to a three-month high. Yamana Gold Inc. (YRI) gained 3.4 percent as the gold price touched a one-week. Bonavista Energy Corp. (BNP) lost 2.6 percent after announcing late yesterday a 42 percent reduction in its monthly dividend.
The Standard & Poor’s/TSX Composite Index (SPTSX) rose 45.57 points, or 0.4 percent, to 12,567.81 at 9:59 a.m. in Toronto. The benchmark gauge has gained 1.1 percent this year, trailing every developed market in the world.
Overseas shipments increased in November 14.1 percent from a year earlier, the most since May, China customs administration data showed, compared with the 5 percent median forecast in a Bloomberg News survey of 40 economists.
To contact the reporter on this story: Eric Lam in Toronto at elam87@bloomberg.net
To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net
