Canada Stocks Hit 1-Month High as Commodities Jump on China Data

Canadian stocks rose for the fifth straight day, reaching a one-month high, as commodities rallied after reports showed China’s trade and Germany’s industrial output beat estimates.

First Quantum Minerals Ltd. (FM) and Teck Resources Ltd. advanced more than 4.9 percent as industrial metals gained. Kinross Gold Corp. (K) added 6.3 percent as earnings beat forecasts. Iamgold Corp. and Barrick Gold Corp. climbed at least 8.6 percent after the precious metal rallied. Tim Hortons (THI) Inc. slumped 2.6 percent after same-store sales fell in its restaurants in Canada and the U.S.

The Standard & Poor’s/TSX Composite Index (SPTSX) rose 120.94 points, or 1 percent, to 12,585.05 at 4 p.m. in Toronto, the highest since April 2. The benchmark equity gauge has added 2.1 percent since May 1 and is up 1.2 percent this year. Trading volume was 5 percent above the 30-day average.

 

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