Canadian Stocks Head for Third Weekly Gain; Energy Shares Riseadmin
Canadian stocks rose, led by energy producers including Petro-Canada as crude oil climbed to a record.
The Standard & Poor’s/TSX Composite Index gained 42.51, or 0.4 percent, to 11,644.52 at 10:33 a.m. in Toronto. It has risen 1.1 percent this week and is headed for a third-straight weekly gain.
Petro-Canada, the country’s third-biggest oil and gas producer, gained 72 cents C$53.01. EnCana Corp., Canada’s biggest natural-gas producer, rose 42 cents to C$58.30.
Oil for August delivery climbed as much as 64 cents to $75.78 a barrel in New York before erasing gains to trade down 9 cents at $75.05.