July 6 (Bloomberg) -- Canadian stocks rose for a third day as oil prices topped $61 a barrel in New York for the first time, lifting energy producers such Petro-Canada and Canadian Natural Resources Ltd.

``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 Corp. and Talisman Energy Inc.

The Standard & Poor's/TSX Composite Index advanced 36.76, or 0.4 percent, to 10,111.89, extending a rally that's sent the index to its highest since October 2000.

The benchmark is up 9.4 percent this year. A measure of energy stocks, which makes up a quarter of the S&P/TSX, increased 0.5 percent and has advanced 40 percent in 2005. Utilities are the only other group to climb more than the S&P/TSX this year, rising 11 percent.

Crude oil futures touched a record $61.35 a barrel in New York, the highest since trading began in 1983, before settling at $61.28, up 2.8 percent. Tropical Storm Dennis may disrupt shipments along the U.S. Gulf coast.

Petro-Canada, the third-largest Canadian oil producer, rose C$1.13 to C$83.10. Canadian Natural Resources, the country's No. 2 natural-gas producer, advanced C$1.04 to C$48.17.

CI Fund, Amvescap

CI Fund Management Inc., Canada's No. 3 mutual fund manager, fell 23 cents to C$18. Chief Operating Officer Stephen MacPhail said the company offered a ``significant premium'' for 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 S&P/TSX has climbed 2.1 percent this week, leaving it more than 10 percent shy of its record 11,388.80 set five years ago. Investors such as Gavin Graham of the Guardian Group of Funds expect higher oil prices to lift the benchmark to a new record.

``The TSX will reach its all-time high again within a year,'' said Graham, who helps manage C$5 billion in Toronto. ``Even at a $40-a-barrel oil price, Canadian energy companies will still be very profitable.''

Futures for the S&P/TSX 60 expiring in September added 0.60 to 567.50. The underlying index, which tracks Canada's largest stocks, gained 2.57 to 567.66.

There were 760 stocks that rose and 655 that fell on the Toronto Stock Exchange. Some 231.1 million shares changed hands, 7.2 percent more than the three-month daily average. The value of shares traded totaled C$4 billion.

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

Emera Inc. (EMA CN) fell 59 cents, or 3.1 percent, to C$18.56. 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 41 cents, or 2 percent, to C$20.71. 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) added 62 cents, or 6.2 percent, to C$10.62 on its first day of trading. The fund sold 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.

Tembec Inc. (TBC CN) rallied for a second day, gaining 19 cents, or 5.3 percent, to C$3.76. An investment company controlled by Canadian billionaire Lino Saputo yesterday said it increased its holding in Canada's biggest pulp producer by 2.02 million shares, boosting Saputo's stake to 16.4 percent.

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

Last Updated: July 6, 2005 17:10 EDT