Toronto stocks rally 4.5 pct on oil, bailout hopes

Tue Sep 30, 2008 1:24pm EDT
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TORONTO, Sept 30 (Reuters) - The Toronto Stock Exchange's main index climbed almost 5 percent on Tuesday as energy issues got a boost from crude's recovery while hopes for a deal on the $700 billion Wall Street bailout calmed investor nerves.

The S&P/TSX composite index .GSPTSE jumped 502.84 points, or 4.5 percent, to 11,787.91.

The rally comes after the index marked its biggest one-day percentage drop in nearly eight years on Monday. ($1=$1.06 Canadian) (Reporting by Scott Anderson; editing by Rob Wilson)