CANADA STOCKS-TSX ends higher, helped by banks and energy shares

Tue Aug 25, 2015 5:49pm EDT
 
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(Adds investor comment, updates prices to close)

* TSX ends up 98.19 points, or 0.75 percent, at 13,150.93

* Seven of the TSX's 10 main groups rise

By Alastair Sharp

TORONTO, Aug 25 (Reuters) - Canada's main stock index finished modestly higher on Tuesday after surging as much as 3 percent following China's decision to cut interest rates and banks' reserve requirement to kick-start economic growth.

The Toronto Stock Exchange's S&P/TSX composite index ended up 98.19 points, or 0.75 percent, at 13,150.93.

It had risen sharply at the open following Monday's global rout, as the People's Bank of China's 25 basis point cut in key rates and 50 basis points off the reserve requirement rate for large commercial banks helped global markets rebound.

The index's heavyweight financial and energy groups, up 2 percent and 1.5 percent respectively, helped steer it to a positive finish, as the price of oil recovered somewhat.

But jittery investors, knocked around by several sessions of sharp declines, were unwilling to make drastic moves.   Continued...