CANADA STOCKS-Financials help lift TSX to 2009 high

Mon Sep 14, 2009 5:10pm EDT
 
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* TSX up 78.81 points, or 0.7 pct, at 11,332.04

* Financial, energy sectors among big winners

* Materials group the lone decliner (Adds details)

By Wojtek Dabrowski

TORONTO, Sept 14 (Reuters) - Toronto's main stock index finished at a 2009 high on Monday, led by heavyweight energy and financial issues, as revived risk appetite and hopes the global economy is moving out of recession fueled a broad rally.

All but one of the TSX's ten main subgroups ended higher, with the energy sector adding 0.86 percent and financials gaining 1.32 percent.

The sole decliner was the resources-laden materials group, which slipped 0.87 percent.

"This is typically supposed to be a really volatile month and it's proved to be quite the contrary," Elvis Picardo, vice-president of research at Global Securities in Vancouver, said of the gains made in recent sessions.

"There continues to be a lot of confidence in Canadian banks," he said, adding that while there wasn't much news moving the market on Monday, expectations of an economic rebound are holding firm.   Continued...