TORONTO (Bloomberg) - Canadian stocks rose for a sixth day, led by oil producers and banks, after an unexpected increase in housing starts signaled stabilisation in the US economy.

Research In Motion Inc., maker of the BlackBerry mobile e- mail device, contributed most to the advance. Enbridge Inc. and Talisman Energy Inc. climbed as crude oil hit a two-month high. Royal Bank of Canada and Bank of Nova Scotia led gains among financial companies on the prospect of an economic turnaround.

"The market will definitely rebound before this process is completed," said David Rea, chairman of Davis-Rea Ltd., which manages about C$400 million in Toronto. "Top-grade Canadian oils have held like a rock in this market."

The Standard & Poor's/TSX Composite Index rose 2.1 percent to 8,559.6 as 136 stocks advanced and 75 declined. Canada's main stock benchmark rose 9.4 percent for its biggest weekly gain since January 2 last week. It had fallen to the lowest in five years on March 9 after global financial institutions posted more than $1.2 trillion in credit losses.

Research In Motion, which got more than half its revenue from the US last year, rose 6.4 percent to C$52.99. US housing starts rose 22 percent in February, the Commerce Department said, snapping the longest streak of declines in 18 years.

Enbridge, Canada's largest pipeline company, rose 5.5 percent to C$40. Talisman, the oil and gas producer with reserves in North America, the North Sea and Southeast Asia, added 6.2 percent to C$13.49. Crude oil for April delivery rose 3.8 percent to $49.16 a barrel on the New York Mercantile Exchange.

Royal Bank, Canada's biggest bank by assets, climbed 2.6 percent to C$36.44. Bank of Nova Scotia, the third-biggest, gained 3.1 percent to C$31.70.

"There was an undue degree of pessimism over the banks," Mr. Rea said.

Barrick Gold Corp. and Goldcorp Inc. retreated as precious metals lost appeal as a haven.

Goldcorp, the world's second-largest gold producer by market value, fell 2.3 percent to C$36.26. Barrick, the biggest, declined 2.6 percent to C$36.61. Gold futures for April delivery dropped 0.7 percent to $916.80 an ounce on the Comex division of the New York Mercantile Exchange.

Canadian Real Estate Investment Trust fell 7.7 percent to $20.15, the second-biggest drop in the index. The owner of 162 retail, office and industrial properties sold 4.95 million units for C$20.20 to raise capital.

Opti Canada Inc. dropped 2.3 percent to 86 cents. The co- owner of the Long Lake oilsands mine in Alberta said Sid Dykstra, its president and CEO, will leave the company April 28 to pursue other opportunities. Christopher Slubicki, a director for the past two years and a founder of oil and gas investment banking firm Waterous & Co., will succeed Dykstra, Opti Canada said.