Surging Miners Lead TSX Higher -- Canadian Commentary

(RTTNews) - Canadian stocks were rose for a fourth day Wednesday, with gains in the energy and mining sector offsetting weaker financials.

The Diversified Metals and Mining Index soared 13.5 percent, trimming a good portion of this year's losses.

Energy stocks gained another 1.5 percent, adding to recent gains along with rebounding crude oil prices.

April West Texas Intermediate crude rose 26 cents, or 0.8%, to settle at $34.66 a barrel on the New York Mercantile Exchange.

Prices have jumped 30% in the past two weeks, moving further from recent 13-year lows near $26.

Data showing U.S. oil output has dwindled helped drive the rally.

In corporate news, Canadian Pacific Railway (CP.TO) approached US rival CSX about a takeover in January, the Wall Street Journal reports. Shares slipped 2 percent.

Packaging company CCL Industries Inc. (CCL_A.TO, CCL_B.TO) said it has agreed to acquire Checkpoint Systems. CCL added 11 percent.