Canada Stocks Rise as Energy, Metals Producers

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Canadian stocks advanced the most in two weeks, halting a two-day slide, as energy and raw-materials producers rallied with commodities prices.

Pacific Rubiales Energy Corp. jumped 4.8 percent to lead oil and gas producers as crude rose to a four-month high in New York. Detour Gold Corp. and Fortuna Silver Mines Inc. increased more than 4.7 percent as precious metals advanced. Finning International Inc., which sells equipment from Caterpillar Inc., added 1.2 percent after the U.S. construction equipment maker forecast 2015 profit that topped analysts’ estimates.

The Standard & Poor’s/TSX Composite Index rose 87.58 points, or 0.6 percent, to 15,392.35 at 4 p.m. in Toronto, the biggest increase since April 9. The benchmark Canadian equity gauge has advanced 5.2 percent this year.

All 10 main groups in the index rose, with materials producers climbing 2 percent to pace gains. Trading volume was 11 percent lower than the 30-day average today.

Agnico Eagle Mines Ltd. added 4.3 percent and Detour Gold jumped 6.7 percent. Gold futures recovered from the biggest drop in six weeks as signs of slowing growth spurred demand for haven assets.

HudBay Minerals Inc. climbed 6.1 percent and Teck Resources Ltd. increased 4.3 percent. Copper rose 0.9 percent in New York.

Cenovus Energy Inc. rallied 2.3 percent after the company said it has hired bankers to explore a sale or initial offering of some of its oil and natural gas lands in Western Canada.

Trican Well Service Ltd. added 4.7 percent and Bankers Petroleum Ltd. rose 3.3 percent as West Texas Intermediate crude surged 2.8 percent after Saudi Arabia renewed its aerial assault on Shiite rebels in Yemen, bolstering concerns Middle Eastern oil shipments may be disrupted.

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