Toronto stocks rally 600 points on bailout hopes

Tue Sep 30, 2008 4:09pm EDT
 
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TORONTO, Sept 30 (Reuters) - The Toronto Stock Exchange's main index climbed more than 600 points on Tuesday, recouping much of the previous day's heavy losses 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 ended unofficially up 604.84 points, or 5.36 percent, at 11,889.91.

The rally comes after the index marked its biggest one-day percentage drop in nearly eight years on Monday. (Reporting by Cameron French; editing by Rob Wilson)