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MW: Canadian stocks gain on rising commodity prices
 
By Polya Lesova, MarketWatch
Canadian stocks gain on rising commodity prices
NEW YORK (MarketWatch) -- Canadian stocks posted gains on Friday, as energy and mining companies played off rising oil and metals prices.

The benchmark S&P/TSX Composite Index (CA:ISPTX 10,369, +65.00, +0.63%) rose 65 points, or 0.6%, to end at 10,369 points.

On the Toronto Stock Exchange, advancing issues topped decliners by 830 to 641, with 267 stocks unchanged.

The metals and mining sector fronted the gains. In futures trading, copper, gold and other metals prices rose on the New York Mercantile Exchange. See Metals Stocks.

ISPTX 10,369, +65.00, +0.63%

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09SNFAJ
Teck Resources Ltd. (CA:TCK.B 23.42, +1.02, +4.55%) rose 4.6% and Breakwater Resources (CA:BWR 0.26, +0.03, +10.87%) surged 11%.

Shares of Lundin Mining Corp. (CA:LUN 3.21, +0.03, +0.94%) gained nearly 1%.

In the energy sector, rallying oil prices boosted oil and gas companies.

Crude-oil futures gained for a third session, extending the contract's weekly advance to more than 5%, as upbeat U.S. housing data raised hopes for recovery in the world's largest economy. See Futures Movers.

Suncor Energy Inc. (CA:SU 33.95, +1.16, +3.54%) rose 3.5% and Talisman Energy Inc. (CA:TLM 16.93, +0.47, +2.86%) rose 3.5%.

Among financials, Royal Bank of Canada (CA:RY 48.80, +0.21, +0.43%) gained 0.4% but Manulife Financial Corp. (CA:MFC 21.82, -0.04, -0.18%) edged down 0.2%.

In economics news, Canadian consumer prices fell 0.3% in June compared with a year ago.

It marked the first 12-month decline in Statistics Canada's all-items consumer price index since November 1994, the agency reported.

The June decline, which came on the heels of a 0.1% increase in May, was due primarily to a 12-month decline of 19% in prices for energy products, particularly gasoline. Excluding energy, the Canadian CPI rose 2.1% in June.

Source