CANADA STOCKS-Greece hopes lift TSX to biggest gain in 2 weeks

Thu Mar 8, 2012 4:36pm EST
 
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* TSX ends up 111.77 points, or 0.91 pct, at 12,461.93

* Eight of 10 sectors stronger

* BoC holds rates, outlook brightens

* Greece moves closer to finalizing bond swap

By Claire Sibonney

TORONTO, March 8 (Reuters) - Toronto's main stock index closed sharply higher on Thursday, posting its biggest gain in more than two weeks as financial and resource issues climbed on signs that Greece would finalize a private debt swap and avoid a chaotic default.

Greece pushed through a bond swap offer to private creditors after clearing the minimum 75 percent threshold of acceptance, moving closer to securing the 130 billion euro bailout fund it needs to avert a default.

Expectations of a solid U.S. employment report for February on Friday also fueled appetite for oil and other growth-sensitive commodities, spurring rises in economically sensitive sectors on the Toronto index. The energy group was up 1 percent and financials were up 1.2 percent.   Continued...