Canadian stocks rose, closing near the highest level in a year, as energy producers advanced for a third session amid speculation crude prices will continue to rebound and Valeant Pharmaceuticals International Inc. jumped after an analyst upgrade.
The S&P/TSX Composite Index added 0.2 percent to 14,777.02 at 4 p.m. in Toronto, after earlier gaining as much as 0.4 percent to touch the highest level on a closing basis since June 2015. Trading volume was 20 percent lower than the 30-day average. The S&P/TSX is the second-best performing developed market in the world this year, just behind New Zealand.
