CANADA STOCKS-TSX closes higher for 6th straight session

Fri Nov 28, 2008 5:03pm EST
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* Financials soar 11.8 percent, track U.S. stocks

* Cameco up after says to suspend Port Hope UF6 output

* TSX up 13.7 pct for the week, down 5 pct in November (Adds closing numbers, quotes, details)

TORONTO, Nov 28 (Reuters) - The Toronto Stock Exchange's main index rallied to its sixth straight gain on Friday as financials surged higher on hopes that U.S. stimulus efforts unveiled this week would help boost the economy.

After adjusting more than 150 points higher minutes after the closing bell, the S&P/TSX composite index .GSPTSE ended the day up 516.85 points, or 5.9 percent, at 9,270.62.

The TSX was up 13.7 percent for the week but down 5 percent for the month.

The financial services sector rose 11.8 percent, drawing support from buoyant U.S. stocks.

The hope is that stimulus efforts this week in the United States -- including an $800 billion lending facility by the Federal Reserve -- could signal a sustained rally, said Andrew Pyle, wealth adviser with ScotiaMcLeod in Peterborough, Ontario.

"The market really believes, I think, that was an inflection point. That provided enough support, finally, for the financial market to start some sort of recovery process," said Pyle. "There is a little more confidence in the U.S. financials."   Continued...