Canadian stocks rally from a five-week low as telephone firms climbed the most in a two weeks amid speculation that Janet Yellen won’t rush to withdraw stimulus when she takes the supervision as Federal Reserve chairman. BCE Inc. and Telus Corp. increased at least 1.4 percent as phone stocks bolstered for a fourth day. Wi-Lan Inc. jumped 1 percent after settling litigation with BlackBerry Ltd. Pretium Resources Inc. relinquished 31 percent as a firm overseeing its gold project in northern British Columbia resigned. Jean Coutu Group PJC Inc. plunged down 4.2 percent after recording worse-than-forecast results. Bond Purchases Most Fed policy makers said the central bank was likely to reduce the pace of its bond purchases this year, according to minutes released today of their last meeting, which took place before the government shutdown. Canadian Industries Eight of 10 industries in the S&P/TSX advanced, with telephone stocks adding 1.5 percent for a fourth day of gains. Trading volume was 9.3 percent lower than the 30-day average. BlackBerry Patents Wi-Lan added 1 percent to C$3.90 after settling litigation with BlackBerry. The smartphone maker obtains licenses for some patents. Terms of the agreement were not disclosed. Allana Potash Corp. jumped 11 percent to 47 Canadian cents after the fertilizer producer said it has been granted a mining license for the Danakhil potash project in Ethiopia. Pretium Resources plunged 31 percent to C$4.87, the lowest since its initial offering in 2010. Strathcona Mineral Services Ltd., hired for an independent assessment of a 10,000-metric-ton ore sample, resigned, Pretium said today in a statement. Jean Coutu, the drugstore chain operator, lost 4.2 percent to C$18.12, the biggest decline since July 2012. The company reported second-quarter adjusted earnings per share that fell short by 1 Canadian cent of analysts surveyed by Bloomberg. Comparable pharmacy sales dropped 0.5 percent in the quarter.
