CANADA STOCKS-TSX hits 2-week high after ECB, Bank of Canada moves

Thu Jan 22, 2015 11:02am EST
 
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* TSX up 106.29 points, or 0.73 percent, at 14,666.71

* All 10 main index sectors advance

* Gold miners jump as bullion gains on ECB action

* RBC slips after announcing acquisition

By John Tilak

TORONTO, Jan 22 (Reuters) - Canada's main stock index advanced on Thursday to its highest level in two weeks as investors cheered the European Central Bank's stimulus measures and an unexpected rate cut by the Bank of Canada.

Bank of Canada's interest rate cut on Wednesday was meant to ease the impact that weaker oil prices are having on the economy. The move fueled a 1.8 percent jump in the TSX on Wednesday.

The ECB on Thursday launched a government bond-buying program to inject hundreds of billions of euros into euro zone's flagging economy.

The central bank moves helped the Canadian benchmark index turn positive on the year, recovering from a slump in the energy sector that was triggered by lower oil prices.   Continued...