Canadian Stocks Rise as Commodities Gain on China Export Data
Cenovus Energy Inc. and Suncor Energy Inc. added at least 0.4 percent as crude rose to a three-month high. Yamana Gold Inc. (YRI) gained 3.4 percent as the gold price touched a one-week. Bonavista Energy Corp. (BNP) lost 2.6 percent after announcing late yesterday a 42 percent reduction in its monthly dividend.
The Standard & Poor’s/TSX Composite Index (SPTSX) rose 45.57 points, or 0.4 percent, to 12,567.81 at 9:59 a.m. in Toronto. The benchmark gauge has gained 1.1 percent this year, trailing every developed market in the world.
Overseas shipments increased in November 14.1 percent from a year earlier, the most since May, China customs administration data showed, compared with the 5 percent median forecast in a Bloomberg News survey of 40 economists.
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