CANADA STOCKS-TSX up more than 1 pct as resource firms rally

Wed Nov 2, 2011 11:36am EDT
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* TSX up 190.77 pts, or 1.6 pct, to 12,299.97

* Materials, energy sectors rise more than 2 pct

* Gold, oil prices rise

* Greece, Euro fears still weigh (Adds details, analyst comments)

By Jon Cook

TORONTO, Nov 2 (Reuters) - Toronto's main stock index jumped more than 1 percent on Wednesday, following two days of sharp losses on Greek debt concerns, as energy and mining stocks followed commodity prices higher.

Oil, copper and other commodities all rose, helped by upbeat U.S. jobs data, following their vicious sell-off on yesterday's surprise announcement of a Greek referendum vote on a euro zone rescue package.

Still, investors' concern about the solvency of Greece and the euro zone's financial stability were expected to continue to set direction for the resource-heavy Canadian market.

"What's driving the market today is the macroeconomic European stuff and the sentiment swing surrounding that," said Rick Hutcheon, president and chief operating officer at RKH Investments.   Continued...