Canadian Stocks Rise as Gold Gains, CIBC Beats Profit Forecasts

Canadian stocks rose for the first time in three days as gold futures gained and Canadian Imperial Bank of Commerce reported earnings that topped analyst estimates.

Barrick Gold Corp. increased 3.3 percent as gold climbed after the U.S. reported a smaller increase in durable-goods orders than forecast and an unexpected drop in home sales. CIBC, the country’s fifth-biggest bank, rose 4.9 percent after beating the average analyst profit forecast by 8.3 percent, excluding certain items. Rogers Communications Inc., the country’s biggest wireless carrier, sank 2.5 percent after a Toronto-Dominion Bank analyst cut his rating on the stock.