Canadian Stocks Inch Higher To Extend Win Streak -- Canadian Commentary

(RTTNews) - Canadian stocks were lackluster for most of Wednesday's session but managed to end with their sixth consecutive daily advance.

The S&P/TSX Composite Index rose 19.50 points to 13,900.49, the best closing mark since January 26.

Energy stocks rallied along with U.S. crude oil prices, which briefly topped $101 a barrel for the first time in four months.

Gold shares sold off after rising 6 percent in the previous two sessions. The Gold Index gave back 2.7 percent, as U.S. gold futures held near $1290, little changed on the day.

Telecoms struggled amid poor quarterly results from Rogers Communications (RCI.B.TO).

Rogers fourth quarter profit dropped 20 percent on a decline in wireless revenue. The board authorized the repurchase of $500 million of stock. Rogers shares slipped 4 percent.

Air Canada's (AC-B.TO) disappointing outlook also darkened the mood a bit on Bay Street. The stock plunged 20 percent.

Grupo Bimbo has agreed to acquire Maple Leaf Foods' (MFI.TO) Canada Bread business for about C$1.65 billion. Canada Bread shares rose 7.5 percent.

Talisman Energy Inc. (TLM.TO, TLM) Wednesday reported a hefty loss for the fourth quarter, weighed down by asset and goodwill impairments. The company said it will also dispose of another $2 billion of assets. Shares rose 2.4 percent.