CANADA STOCKS-TSX jumps 2 pct at end of dismal quarter

Wed Sep 30, 2015 4:44pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds strategist comment, updates prices to close)

* TSX ends up 270 points, or 2.07 percent, at 13,306.96

* Nine of 10 main groups rise

By Alastair Sharp

TORONTO, Sept 30 (Reuters) - Canada's main stock index gained more than 2 percent on Wednesday as surprisingly robust domestic growth data boosted sentiment and Valeant Pharmaceuticals International Inc shares rebounded after being battered by charges of price gauging.

The Toronto Stock Exchange's S&P/TSX composite index gained 270 points, or 2.07 percent, to end the session at 13,306.96.

The index still fell 4 percent in September and 8.6 percent in the quarter, however, in its worst quarterly performance since 2011.

"It's been a bad quarter, a bad three months, and you're getting a bounce on some of those groups that were badly hurt," said John Ing, president of Maison Placements Canada.

"It's not the beginning of the bottom or anything like that, no," he said. "There's still too much optimism in valuations."   Continued...