TORONTO (Bloomberg) — Canada’s Standard & Poor’s/TSX Composite Index broke through 13,000 for the first time, as a rally in oil prices lifted energy companies including Suncor Energy Inc.Raw-materials producers advanced on speculation record metals prices will bolster profits and trigger more mergers in the industry. Research In Motion Ltd. jumped ahead of its results next week as an analyst increased his earnings estimates.

“The equity cycle isn’t over,” said Peter Gibson, vice chairman and head of portfolio strategy at Desjardins Securities in Toronto. “Oil may take another run at $70 a barrel. Base metals prices are still strong. If you have the right rate of profit growth, that makes for higher share prices.”

The S&P/TSX added 111.45, or 0.9 percent, to a record 13,021.77 in Toronto.

A measure of energy shares rose 1.2 percent. It accounts for more than a quarter of the S&P/TSX’s value and contributed the most to the benchmark’s gain for a second day.

Shares of Suncor Energy, the world’s second largest oil- sands miner, jumped C$2.30 to C$94.54.

The company said in a statement that it may acquire land near Edmonton, Alberta, to build a refining plant to handle future expansion.

Canadian Oil Sands Trust, lead partner in the biggest tar- sands producer, increased $1.37 to C$33.32.

UTS Energy Corp., a partner with Petro-Canada in the Fort Hills oil-sand project, climbed 28 cents to C$4.60. Petro-Canada, the country’s third-biggest oil and gas company, added 54 cents to C$51.64, after raising the quarterly dividend by 30 percent to 13 cents a share.

Crude oil for January delivery climbed for a second day, gaining 1.9 percent to $62.51 a barrel in New York, after the Organization of Petroleum Exporting Countries, producer of about 40 percent of the world’s oil, agreed to reduce output to bolster prices.