July 6 (Bloomberg) -- Canadian stocks rose as oil prices climbed above $60 a barrel in New York for a second day, lifting energy producers such as Suncor Energy Inc. and Petro-Canada.

The Standard & Poor's/TSX Composite Index advanced 12.14, or 0.1 percent, to 10,087.27 as of 10:25 a.m. in Toronto, extending a rally that's lifted the benchmark to its highest in almost five years. A gauge of oil-related companies increased 1 percent bringing its 2005 gain to 41 percent.

``Canadian energy stocks are all fully priced, edging into being overpriced even, but I'm not selling my oil stocks,'' said David Cockfield, who helps manage C$1 billion at Leon Frazer & Associates in Toronto. ``We could have prices of $70 to $75 a barrel in the next few months. That'll be great for my stocks, but overall it'll have a bad economic effect.'' The firm's biggest holdings are EnCana and Talisman Energy Inc.

The S&P/TSX, which gets a quarter of its value from energy stocks, is up 9.1 percent this year and is 11 percent below its record reached in September 2000. Utilities are the only other group to climb more than the benchmark this year, rising 11 percent.

Crude oil for August delivery climbed 1.1 percent to $60.25 a barrel in New York after Tropical Storm Cindy disrupted the arrival of shipments and production along the U.S. Gulf coast and another storm threatens to enter the region later this week.

Suncor, the world's No. 2 miner of oil sands, added 50 cents to a record C$62.80. Petro-Canada, the third-largest Canadian oil producer, rose 74 cents to C$82.71.

CI Fund Management Inc., Canada's No. 3 mutual fund manager, fell 18 cents to C$18.05. The company indicated it may buy Amvescap Plc, sending shares of Europe's largest publicly traded money manager up as much as 17 percent. Amvescap said it's unlikely an offer will be made that's in shareholders' best interests.

The following is a list of companies whose shares are having unusual price changes in the Canadian market. Stock symbols are in parentheses after company names.

Emera Inc. (EMA CN) fell 22 cents, or 1.2 percent, to C$18.93. The Nova Scotia electricity regulator was reduced to ``negative'' from ``stable'' by Standard & Poor's and its debt rating was affirmed at BBB+.

Glamis Gold Ltd. (GLG CN) rose 35 cents, or 1.7 percent, to C$20.65. The producer of gold in Nevada and Honduras said James Voorhees was promoted to executive vice president and chief operating officer.

Pizza Pizza Royalty Income Fund (PZA-U CN) rose 80 cents, or 8 percent, to C$10.80 on its first day of trading. The fund sold about 16.8 million units at C$10 a piece and said it would use the proceeds to acquire the trademarks and intellectual property rights of Pizza Pizza Ltd., which had 500 restaurants in Canada as of March 31, according to a Toronto Stock Exchange announcement.

Tembec Inc. (TBC CN) rose for a second day, gaining 11 cents, or 3.1 percent, to C$3.68. An investment company controlled by Canadian billionaire Lino Saputo said it increased its holding in Canada's biggest pulp producer by 2.02 million shares, raising Saputo's stake to 16.4 percent.

CI Fund Management Inc. (CIX CN)
Petro-Canada (PCA CN)
Suncor Energy Inc. (SU CN)

To contact the reporter on this story: Ari Levy in New York at alevy5@bloomberg.net.

Last Updated: July 6, 2005 10:26 EDT