CANADA STOCKS-TSX jumps on U.S. data, energy shares

Thu Jan 8, 2015 4:37pm EST
 
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* TSX up 172.72 points, or 1.21 percent, at 14,457.72

* All of 10 main index sectors advance

* Valeant jumps 6.2 percent after raising outlook

By John Tilak

TORONTO, Jan 8 (Reuters) - Canada's main stock index rose 1.2 percent on Thursday as positive U.S. data reinforced the Federal Reserve's confidence in the economy and the energy sector climbed with the price of U.S. crude oil.

Latest labor-market figures showed strength in the U.S. economy, with the number of jobless claims falling last week and job cuts declining for a second straight month in December.

Minutes from a recent policy meeting indicated that Fed members debated how to communicate plans to eventually begin raising interest rates later this year.

The Toronto equity market rebounded for a second straight session, following sharp selloffs on concerns about a global crude supply glut that took down oil prices.

"It's an oversold bounce," said Robert McWhirter, president and portfolio manager at Selective Asset Management.   Continued...