Canadian stocks rose the most in three weeks as energy producers jumped with the price of crude and railroad operators led industrials higher.
Painted Pony Petroleum Ltd. gained 4.6 percent to lead a rise in energy shares as oil advanced 2.3 percent in New York.
Valeant Pharmaceuticals International Inc. jumped 1.9 percent, contributing the most to gains in the benchmark index. Canadian Pacific Railway Ltd. climbed 2 percent.
The Standard & Poor’s/TSX Composite Index rose 97.33 points, or 0.7 percent, to 15,184.03 at 10:29 a.m. in Toronto, headed for the best rally since May 1.
Eight of 10 industries in the S&P/TSX gained with energy and health-care companies leading the charge. Trinidad Drilling Ltd. and Penn West Petroleum Ltd. rose more than 3.8 percent, as energy shares gained 1.3 percent as a group.
Oil rose for a second day as U.S. crude stockpiles shrank, indicating the supply glut may be easing. Futures advanced as much as 1.5 percent in New York.
Valeant Pharmaceuticals added to annual gains that together with Concordia Healthcare Corp. have boosted total returns for the members of the S&P/TSX Composite Health Care Index to almost six times that of its U.S. counterpart, according to data compiled by Bloomberg.
ATS Automation Tooling Systems, Inc. soared 9.1 percent, the most in the S&P/TSX after reporting first quarter earnings that outpaced analysts’ estimates.
bloomberg.com
Painted Pony Petroleum Ltd. gained 4.6 percent to lead a rise in energy shares as oil advanced 2.3 percent in New York.
Valeant Pharmaceuticals International Inc. jumped 1.9 percent, contributing the most to gains in the benchmark index. Canadian Pacific Railway Ltd. climbed 2 percent.
The Standard & Poor’s/TSX Composite Index rose 97.33 points, or 0.7 percent, to 15,184.03 at 10:29 a.m. in Toronto, headed for the best rally since May 1.
Eight of 10 industries in the S&P/TSX gained with energy and health-care companies leading the charge. Trinidad Drilling Ltd. and Penn West Petroleum Ltd. rose more than 3.8 percent, as energy shares gained 1.3 percent as a group.
Oil rose for a second day as U.S. crude stockpiles shrank, indicating the supply glut may be easing. Futures advanced as much as 1.5 percent in New York.
Valeant Pharmaceuticals added to annual gains that together with Concordia Healthcare Corp. have boosted total returns for the members of the S&P/TSX Composite Health Care Index to almost six times that of its U.S. counterpart, according to data compiled by Bloomberg.
ATS Automation Tooling Systems, Inc. soared 9.1 percent, the most in the S&P/TSX after reporting first quarter earnings that outpaced analysts’ estimates.
bloomberg.com
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