CANADA STOCKS-TSX rises sharply on stimulus hopes

Wed Jan 28, 2009 4:15pm EST
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TORONTO Jan 28 (Reuters) - Toronto's main stock index rose 1.7 percent on Wednesday, led by the heavily weighted financial sector, on hopes that Canada's multibillion-dollar stimulus package and further U.S. government action would promote economic stability.

The S&P/TSX composite index .GSPTSE unofficially closed up 1.7 percent, or 149.29 points, at 8,908.92, but off highs seen after the U.S. Federal Reserve held rates steady and said it is prepared to buy longer-term Treasuries.

Eight of the index's 10 main groups advanced. (Reporting by Ka Yan Ng; editing by Peter Galloway)