Canada’s S&P/TSX Soars Above 15,000 to Highest Since 2008

Canadian stocks rose, sending the benchmark index above 15,000 points, as energy companies were boosted by oil prices amid escalating violence in Iraq.

Legacy Oil & Gas Inc. and Crew Energy Inc. increased at least 4.8 percent, pacing gains among energy companies. Amaya Gaming Group Inc. jumped 42 percent after agreeing to acquire PokerStars. Pilot Gold Inc. fell 8 percent as the miner announced a pact to buy Cadillac Mining Corp.

The Standard & Poor’s/TSX Composite Index (SPTSX) rose 91.98 points, or 0.6 percent, to 15,001.61 at 4 p.m. in Toronto. The gauge has risen 10 of the last 11 days, and is 0.5 percent below its all-time high of 15,073.13 reached in June 2008. The index is up 10 percent this year.

Energy companies increased 1.7 percent as a group, the biggest jump since August, as an advance by Islamist fighters in Iraq threatened to disrupt world oil supplies.

Legacy Oil & Gas rose 5.8 percent to C$9.71 and Crew Energy added 4.8 percent to C$11.51.

Amaya Gaming jumped 42 percent to C$20 after announcing the $4.9 billion deal to buy PokerStars. The purchase will make Amaya the biggest publicly held online gambling company in the world, the company said.

Pilot Gold lost 8 percent to C$1.50 after saying it would buy Cadillac at a 121 percent premium to its closing price on June 12. Cadillac, which trades on the TSX Venture Exchange, more than doubled to 20 Canadian cents.

Canadian factory sales posted a surprise decline in April, the first drop in four months. Sales fell 0.1 percent to C$50.9 billion, Statistics Canada said. Economists surveyed by Bloomberg predicted a rise of 0.5 percent.

To contact the reporter on this story: Gerrit De Vynck in Toronto at gdevynck@bloomberg.net

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net Jeremy Herron, Jeff Sutherland

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