CANADA STOCKS-TSX rallies broadly as Greece boosts sentiment

Mon Jul 13, 2015 11:23am EDT
 
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(Updates throughout; adds commentary, market gainers/decliners, TSX figures)

* TSX up 128.24 points, or 0.89 percent, at 14,539.31

* Eight of the 10 sectors are higher

By Solarina Ho

TORONTO, July 13 (Reuters) - Canada's main stock index rallied on Monday, tracking global markets relieved that all-night talks between Greece and euro zone leaders resulted in a deal that would keep Athens afloat and part of the euro community.

While Greece has little direct bearing on Canadian equities, markets were nonetheless nervous and fixated on the potential broader fallout should talks fail.

"Everyone was really looking forward to this. It's a good news story from a standpoint of removing a little of the uncertainty out of Greece in the short term, with all the volatility. So markets are quite happy," said Sun Life Global Investments Chief Investment Officer Sadiq Adatia, who expects markets to take on a more bullish tone now.

At 11:02 a.m. EDT (1502 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 128.24 points, or 0.89 percent, to 14,539.31.

Of the index's 10 main groups, eight sectors advanced and a majority added at least 1 percent to their gains. Financial stocks had the biggest positive pull on the TSX.   Continued...