TSX Climbs For Third Day -- Canadian Commentary

(RTTNews) - Canadian stocks rose for a third consecutive session Thursday, as resource stocks rallied on higher metal prices.

The S&P/TSX Composite Index rose 73.86 points to 13,473.83. Gold stocks performed particularly well as investors hunted for bargains in the beaten down sector.

The Gold Index juped 2.6 percent as gold prices steadied from 5-year lows near $1070 an ounce.

Energy shares lagged as crude oil dipped near $40 a barrel. The Energy Index dropped 1.5 percent.

Bombardier (BBD-A.TO) shares were flat after early gains evaporated. The company announced that institutional investor Caisse de depot et placement du Quebec or CDPQ will make a $1.5 billion convertible share investment in Bombardier's rail division.

On the economic front, Stats Canada reported that wholesale sales slipped 0.1% to $55.2 billion in September. Economists had been expecting an increase of 0.3 percent. The August result was also revised to a flat reading, from the decrease of 0.1 percent initially reported.