CANADA STOCKS-TSX hits 2-week high as risk appetite returns
* TSX closes up 236.46 points at 11,486.88
* Big 3 sectors - oil, materials, banks - solidly higher
* G20 weekend meeting fuels investor optimism (Adds details, quote)
By Jennifer Kwan
TORONTO, Nov 9 (Reuters) - Toronto's main stock index rose to a two-week high on Monday after a pledge from the Group of 20 to pursue economic stimulus measures until recovery is in place encouraged investors to let go of the safe-haven U.S. dollar and embrace riskier assets.
Financial issues were also big contributors to the rally, with several banks among the index's top 10 gainers. Toronto-Dominion Bank (TD.TO: Quote) climbed 3.1 percent to C$66.59, and Royal Bank of Canada (RY.TO: Quote) rose 2.2 percent rise to C$56.44.
"The No. 1 driver was the weakness in the U.S. dollar. Everybody is marching to that drum," said Sal Masionis, stockbroker at Brant Securities.
The dollar fell to a 15-month low against a basket of major currencies on Monday after the Group of 20 finance ministers and central bankers said at the end of a weekend meeting in Scotland that while the global economy has improved, recovery is still uneven and depends on policy support, which they vowed to provide until recovery was assured. [ID:nLQ516726] Continued...