March 10, 2009 / 4:09 PM / 9 years ago

CANADA STOCKS-TSX up 3 percent at midday as banks surge

TORONTO, March 10 (Reuters) - Toronto’s main stock index was up 3 percent at midday on Tuesday, led by a surge in the heavily weighted financial index after a memo to staff by Citigroup’s (C.N) chief executive provided reassurance on its prospects.

At 11:57 a.m.(1557 GMT), the S&P/TSX composite index .GSPTSE was up 226.79 points, or 3 percent, at 7,793.73. Nine of the TSX’s 10 sectors were higher, led by a 7.7 percent surge in the financials index. (Reporting by Frank Pingue; Editing by Peter Galloway)

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