Canada Stocks Jump With Crude on Report OPEC Will Reduce Output

(Bloomberg) — Canadian stocks halted a three-day slide as energy producers jumped the most since February after OPEC agreed to cut production for the first time in eight years, while BlackBerry Ltd. rose to the highest in six months after saying it will stop making smartphones.The S&P/TSX Composite Index surged 1.2 percent to 14,731.43 at 4 p.m. in Toronto, extending gains in afternoon trading after sinking 1.6 percent in the past three sessions. The index has advanced 4.7 percent since the end of June, the most in two years.That’s made Canadian stocks more expensive than U.S. peers, with a price-to-earnings ratio of 23.5 maintaining a 15 percent premium over the S&P 500 Index. The current valuation of Canadian equities is near the highest levels in 14 years, according to data compiled by Bloomberg.Canadian Natural Resources Ltd. and Crescent Point Energy Corp. surged at least 5.9 percent to lead a 3.7 …