CANADA STOCKS-TSX gains 1 pct on European optimism

Wed Oct 12, 2011 4:52pm EDT
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 *TSX ends up 154.41 points, or 1.3 percent, at 12,029.96
 *Nine out of 10 sectors end higher
 By Ashleigh Patterson
 TORONTO, Oct 12 (Reuters) - Toronto's main stock index rose
more than 1 percent on Wednesday to its highest close in more
than three weeks, lifted by hopes for a solution to Europe's
financial crisis.
 Among the top gainers, Suncor Energy (SU.TO: Quote) rose 2.63
percent to C$29.61 as Brent crude oil rallied for a sixth
straight session, helped up by the optimism over the European
debt crisis .[O/R] Fellow oil company Canadian Natural
Resources (CNQ.TO: Quote) rose 2.66 percent to C$32.04, up 2.66
 "I think those are some of the stocks that got hit hard in
the last three or four weeks. It was a source of liquidity when
the market was selling off and now people are seeing them as
sources of value," said Bruce Latimer, trader at Dundee
 The TSX index's rise followed the move of other major world
exchanges, which also hit three-week highs as investors cheered
after politicians in Slovakia reached a deal that will let the
country approve an expansion of the euro zone's rescue fund.
 Slovakia is the last country in the 17-member currency zone
left to approve the revamped European Financial Stability
Facility. [ID:nL5E7LC0JT]
  The Toronto Stock Exchange's S&P/TSX composite ended up
154.41 points, or 1.3 percent, at 12,029.96  .GSPTSE. Nine of
its 10 sectors rose, with the information technology group,
home to BlackBerry maker Research In Motion RIM.TO, the sole
 RIM closed down 3.46 percent at C$24.27 as the company
struggled to work through a service outage caused by a backlog
of messages after a core switch failure in Europe. The company
said there was no hack or breach of its systems.[ID:N1E79B1JU]
 Highly leveraged to the stock market, Manulife Financial
(MFC.TO: Quote) finished strong on Wednesday, rising 3.96 percent to
C$12.85 on the upswing in risk sentiment.
 Among other financial shares, Toronto-Dominion Bank (TD.TO: Quote)
rallied 1.27 percent to C$75.20, and Royal Bank of Canada
(RY.TO: Quote) rose 1.84 percent to C$48.83.
 ($1=$1.02 Canadian)
 (Reporting by Ashleigh Patterson; editing by Peter Galloway)