CANADA STOCKS-TSX nears 2-month high as cenbank actions boost

Thu Jan 22, 2015 4:33pm EST
 
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* TSX up 203.56 points, or 1.4 percent, at 14,763.98

* All of 10 main index sectors advance

* Gold miners rise as bullion gains on ECB move

* RBC slips after announcing acquisition

By John Tilak

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

The Bank of Canada cut interest rates on Wednesday in an effort to ease the impact of weaker oil prices on the Canadian 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 the 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...