Nov. 23 (Bloomberg) -- Canadian stocks rose for the first time in three days, led by energy and raw-materials companies, after U.S. officials suggested stimulus policies may continue longer than thought, boosting commodity prices.
Barrick Gold Corp., the world’s largest gold producer, gained 1.9 percent as bullion prices climbed to a record. Suncor Energy Inc., Canada’s biggest energy company, added 1.8 percent as crude oil increased more than $1 a barrel. First Quantum Minerals Ltd. advanced 1.5 percent after agreeing to buy copper explorer Kiwara Plc for $260.2 million.
The Standard & Poor’s/TSX Composite Index climbed 104.99 points, or 0.9 percent, to 11,684.32 at 9:31 a.m. in Toronto.
The S&P/TSX had risen 6.1 percent this month through Nov. 20 as gold, copper and oil producers rallied on a weakening U.S. dollar. Commodity-linked companies account for 46 percent of Canadian stocks by market value.
To contact the reporter on this story: Matt Walcoff in Toronto at mwalcoff1@bloomberg.net.
