CANADA STOCKS-TSX rises as earnings impress, euro fears ease

Thu Apr 29, 2010 5:08pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX ends 1.02 percent higher at 12,200.32

* Broad strength led by energy, financials

* Four groups post 1 percent gains or more (Updates to close)

By Ka Yan Ng

TORONTO, April 29 (Reuters) - Toronto's main stock index ended higher on Thursday, recouping some of the losses of the previous two sessions, as fears over euro zone sovereign debt ebbed and healthy corporate earnings boosted optimism.

Investors were willing to take on risk again after Greece readied severe austerity measures to secure multibillion-dollar aid plans, providing relief to financial markets, which took it as a sign of potential resolution to Greece's debt troubles. [ID:nLDE63S0BL]

The move paved the way for the heavyweight financial and resource sectors to lead the Toronto index higher, after it slumped 1.66 percent over two days on fears stirred up by credit downgrades of Greece, Portugal and Spain.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 123.43 points, or 1.02 percent, higher at 12,200.32.

Nine of its 10 sectors were higher, with four posting gains of 1 percent or more. The utilities group was the sole decliner.   Continued...