Barrick May Gain on Gold's Advance, Bank of Montreal May Fall

By Whitney Kisling

Nov. 14 (Bloomberg) -- Goldcorp Inc. may advance, based on bids on the Toronto Stock Exchange, as bullion gained appeal as a safe haven after the U.S. reported the biggest drop ever in retail sales last month.

Enbridge Inc., Canada's largest pipeline company, may add C$1.14 to C$40.49, bids show. Canadian Natural Resources Ltd. may add C$1.46 to C%51.80. Bank of Montreal may decline 79 cents to C$42.25, bids indicate.

The Standard & Poor's/TSX Composite Index rallied 4.8 percent to 9,352.78 yesterday in Toronto. Energy, mining and finance shares account for three-fourths of the Canadian benchmark index's value.

Barrick, the world's biggest gold producer, may climb 85 cents to C$29.40, bids show. Gold rebounded after a Commerce Department report showed retail sales in the U.S. dropped 2.8 percent in October.

Crude oil for December delivery traded at $58.19 a barrel, 5 cents lower, in New York, heading for its second weekly decline. EnCana Corp., the country's biggest energy company by market value, may fall C$1.11 to C$57, according to bids.

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.