Canadian stocks rose for a fourth day, extending a two-year high, as Royal Bank of Canada soared to a record close and energy producers surged on accelerating economic growth in China.
Canola futures fell to the lowest in almost eight weeks on signs that farmers will harvest a record crop in Canada, the world’s largest grower.
Options are signaling that the Federal Reserve can reduce its bond-purchase program without causing a spike in price swings in the Treasury market.
Canadian farmers may harvest the most wheat in 22 years and produce the biggest canola crop on record, according to a government survey.
U.S. stocks rose, sending the Standard & Poor’s 500 Index to the highest level since December 2007, after data showed employers added workers in December at about the same pace as the prior month.
KPMG Inc., the court-appointed trustee for the Canadian unit of MF Global Holdings Ltd., was ordered to make cash payments to the bankrupt company’s 2,500 foreign exchange customers in the country.
Canadian stocks rose a second day, erasing a weekly loss, as energy producers rallied following economic data that signaled growth in the U.S. is accelerating.
Canada’s 10-year notes dropped for the first time in six days, ending the longest winning streak in three months, after a report yesterday showed that gains in inflation slowed.
Robert Moffat, the former International Business Machines Corp. executive who pleaded guilty in the Galleon Group LLC insider-trading scheme, said accused tipster Danielle Chiesi “played him” to obtain tips.
Whistler Blackcomb Holdings Inc., owner of the Canadian ski resort that hosted the 2010 Winter Olympics, plans to sell stock in an initial public offering.