CANADA STOCKS-Optimism and oil boost TSX to six-month high

Fri May 8, 2009 4:47pm EDT
 
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* Index up 2.7 pct on day, 7.8 pct on week

* U.S. bank stress tests boost investor optimism

* Canada unexpectedly adds 35,900 jobs in April

* Energy group, up 5.7 percent, leads TSX rally (Updates to close, adds quotes, details)

By Jennifer Kwan

TORONTO, May 8 (Reuters) - Toronto's main stock index shot to its highest close in more than six months on Friday, buoyed by higher oil prices and rising optimism over surprisingly strong jobs data and the outlook for the U.S. financial system.

"We're coming out of a period where people were throwing around the Depression word," said Jennifer Radman, vice-president Caldwell Investment Management Ltd. "Now we're kind of seeing, maybe, it's not that bad."

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 270.94 points, or 2.72 percent, at 10,237.99, with nine of its 10 main sectors higher. The TSX was up 7.8 percent on the week.

Healthier than expected Canadian and U.S. jobs figures on Friday fueled the upbeat mood. [ID:nN08444159] [ID:nN08455623]   Continued...