Canada Stocks Rise as Gold Hits 16-Week High; BlackBerry Rallies

Canadian stocks rose, after snapping the longest winning streak since 1995, as gold rallied to a 16-week high and BlackBerry Ltd. led technology shares higher.

Detour Gold Corp. (DGC) rose 4 percent to pace gains among miners of the precious metal. BlackBerry jumped 5.8 percent after people briefed on the matter said Ford Motor Co. will use the smartphone maker’s operating software in its Sync system.

The Standard & Poor’s/TSX Composite Index (SPTSX) rose 45.33 points, or 0.3 percent, to 14,251.05 at 10:13 a.m. in Toronto. The benchmark equity gauge has advanced in 13 of the past 14 sessions, adding 5.7 percent since Feb. 3.

The index is 0.1 percent below its peak of 14,270.53 reached on April 5, 2011, the highest level since June 2008. Raw-materials stocks in the S&P/TSX have soared 18 percent this year to drive the rally.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.