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Canada Stocks Rise Third Day After Returning to Bull Market

  • S&P/TSX up 21% from January low as commodities lead rally
  • Oil producers rally as Abu Dhabi sees crude at $60 a barrel
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Fresh off capping a four-month rally that returned them to a bull market, Canadian stocks advanced a third day as commodities rose after Federal Reserve Chair Janet Yellen said interest rates will rise gradually without specifying the precise timing.

The S&P/TSX Composite Index rose 0.4 percent to 14,276.16 at 4 p.m. in Toronto, the highest level since August, rebounding into the close after briefly paring gains in afternoon trading. The index is up 21 percent from its Jan. 20 low, after climbing out of a bear market on Friday. Trading volume today was 3.2 percent less than the 30-day average.