CANADA STOCKS-TSX ends higher on materials, banks

Wed Oct 20, 2010 4:11pm EDT
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TORONTO Oct 20 (Reuters) - Toronto's main stock index rebounded on Wednesday as gold miners and financials were strong performers in a broad rally, one day after the index slumped on an unexpected Chinese interest rate hike.

Gold prices rallied as investors assessed the initial reaction to China's rate hike as overblown, while the greenback weakened, boosting U.S. dollar-denominated commodities and sending the materials sector up more than 1 percent.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE gained 79.37 points, or 0.63 percent, to 12,649.92. Nine of the index's 10 main groups were higher.

($1=$1.02 Canadian) (Reporting by Ka Yan Ng; editing by Rob Wilson)