CANADA STOCKS-TSX up more than 2 pct on Europe aid plan

Mon May 10, 2010 5:02pm EDT
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* TSX ends up 2.18 percent at 11,947.90

* All 10 of TSX's main sectors rise

* Some investors still hesitant to re-enter market (Updates to market close; adds quotes, details)

By John McCrank

TORONTO, May 10 (Reuters) - Toronto's main stock index rose over 2 percent on Monday in a broad-based rally as investors were emboldened by a $1 trillion emergency rescue package out of Europe aimed at containing Greece's debt crisis.

Energy producers were among the top gainers as the price of U.S. crude oil rallied more than 2 percent on the back of the aid plan. [O/R] [ID:nTOE64904W]

Canadian Natural Resources (CNQ.TO: Quote) rose 2.8 percent to C$73.98, while Petrobank Energy and Resources Ltd PBG.TO gained 4.3 percent to C$49.20. The energy group as a whole was up 2.8 percent on the day.

"A lot of those stocks had pulled back just based on worries about longer-term economic growth prospects," said Gareth Watson, portfolio adviser with ScotiaMcLeod.

"If Europe is in trouble ... they make up 25 percent of the world's economy, so that means that the global economy is in trouble."   Continued...