Toronto stocks jump 200 points, erasing earlier loss

Tue Jan 22, 2008 9:53am EST
 
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TORONTO Jan 22 (Reuters) - Toronto stocks turned sharply higher on Tuesday after opening more than 100 points lower as interest rate cuts in both Canada and the United States helped investors shake off steep losses in the previous session.

About 20 minutes into the session, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 205.66, or 1.7 percent, at 12,337.79 after dipping as low as 12,011.68 near the start of trading. ($1=$1.03 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)