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

Thu Mar 8, 2012 5:04pm 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.

"It looks like they're going to get enough people to accept with gritted teeth the haircut that they're forcing on them," said Gavin Graham, president at Graham Investment Strategy.   Continued...