Canadian stocks rose a fourth day, for the longest stretch of gains since February, as the nation’s largest lenders advanced and energy producers extended gains with crude reaching a seven-week high.
Hudson’s Bay Co. surged 5.6 percent after forecasting 2015 sales that exceed estimates. Air Canada rose 1 percent as traffic increased on its routes in March. Bombardier Inc. and SNC-Lavalin Group Inc. climbed at least 1.5 percent to lead industrial shares higher. Royal Bank of Canada added 0.8 percent to pace gains among the lenders.
The Standard & Poor’s/TSX Composite Index rose 88.19 points, or 0.6 percent, to 15,188.84 at 4 p.m. in Toronto. The equity gauge has advanced 1.9 percent in four days, the longest winning streak since Feb. 17.
Seven of the 10 main groups in the equities benchmark advanced, with energy shares rising 1.2 percent as a group. Technology shares added 2.2 percent for the best gain. Trading volume was 13 percent higher than the 30-day average today.
Hudson’s Bay rose to an all-time high. Digital sales at the retailer soared 35 percent in the fourth quarter while same-store sales advanced in both the company’s department store chains as well as its Saks Fifth Avenue unit.
Ballard Power Systems Inc., which makes and markets hydrogen fuel cells, soared 8.2 percent after the company said its customers successfully demonstrated an electric tram powered by one of its cells at a ceremonial event in China.
Royal Bank, the nation’s largest lender, increased to the highest since March 2, and Toronto-Dominion Bank increased 0.8 percent as the S&P/TSX Banks Index rallied. The group has surged 2.8 percent in six days, the longest such stretch since December.