CANADA STOCKS-TSX pares early losses to rise more than 1 pct

Thu Jan 15, 2009 2:43pm EST
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TORONTO Jan 15 (Reuters) - Toronto's main stock index pared early losses to rise more than 1 percent on Thursday, boosted a recovery in U.S. stocks and jump in issues including Research in Motion Ltd RIM.TO.

The S&P/TSX composite index .GSPTSE rose 107.55 points, or 1.24 percent, to 8,795.91. Eight of the index's 10 main groups advanced.

Earlier, it had hit its lowest point this year as nagging concerns about a drop in oil demand weighed on the resource heavy index while influential banking shares also tumbled.

($1=$1.24 Canadian) (Reporting by Ka Yan Ng; editing by Jeffrey Hodgson)