CANADA STOCKS-TSX rallies 5.5 pct, but still down on week

Fri Nov 21, 2008 5:02pm EST
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* TSX jumps 430 points in broad rally

* Gold, energy shares win over weak financials

* Index still down 9.9 percent from last week (Adds detail, comments)

By Wojtek Dabrowski

TORONTO, Nov 21 (Reuters) - Surging commodity prices propelled gold and energy shares to a big win over weak financials on the Toronto Stock Exchange on Friday, as the volatile session ended with a gain of more than 5.5 percent.

Every one of the 10 main subgroups of the S&P/TSX composite index .GSPTSE rose by the end of the day, despite earlier volatility that saw the benchmark wheeling wildly between positive and negative territory.

The composite closed up 430.63 points, or 5.57 percent, at 8,155.39. Earlier in the day, the benchmark hit a low of 7647.11.

But even with Friday's broad rally, the TSX was still down 9.9 percent for the week.

Energy issues and the resource-heavy materials group rose 9.9 percent and 19 percent, respectively.   Continued...