Canadian stocks rose a third day, climbing to a one-month high, as commodities producers rallied with crude and gold prices after U.S. jobs data spurred speculation the Federal Reserve will delay raising interest rates.
Barrick Gold Corp. and Turquoise Hill Resources Ltd. jumped at least 5.3 percent as gold prices touched a seven-week high. Genworth MI Canada Inc. advanced 7.5 percent after announcing it will increase mortgage insurance premiums for some homebuyers. Penn West Petroleum Ltd. added 11 percent to pace gains among energy companies.
The Standard & Poor’s/TSX Composite Index rose 74.03 points, or 0.5 percent, to 15,100.65 at 4 p.m. in Toronto, for the highest close since March 5. Canadian markets were closed April 3 for the Good Friday holiday.
Turquoise Hill Resources surged 9.8 percent and Pretium Resources Inc. climbed 6.5 percent as raw-materials producers surged 1.9 percent as a group. Six of 10 industries in the S&P/TSX increased on trading volume 20 percent lower than the 30-day average.
Gold for June delivery added 1.5 percent to settle at $1,218.60 an ounce in New York, after earlier touching the highest since Feb. 17. Silver and platinum increased.
American companies added 126,000 positions in March, the smallest expansion since December 2013, according to the Labor Department report on Friday.
Calfrac Well Services Ltd. and Penn West Petroleum each rallied 11 percent as crude oil surged 6.1 percent in New York, the most in two months after Saudi Arabia raised prices for shipments to Asia.
WestJet Airlines Ltd. slumped 4.3 percent, the lowest since October, as the airliner’s capacity grew 4.8 percent year-over-year in March while the number of people flying rose 2.2 percent.