CANADA STOCKS-TSX rallies more than 200 points after Fed cut

Tue Dec 16, 2008 3:45pm EST
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TORONTO Dec 16 (Reuters) - Toronto's main stock index rose more than 200 points in a broad rally on Tuesday after the U.S. Federal Reserve cut its target for overnight interest rates to a record low range of zero to 0.25 percent and said it would do everything it can to chase away the economic gloom.

The S&P/TSX composite index .GSPTSE was up 216.48 points, or 2.56 percent, at 8,678.31. (Reporting by Wojtek Dabrowski; editing by Peter Galloway)