March 24, 2020 / 1:54 PM / 5 months ago

CANADA STOCKS-TSX jumps at open as Fed stimulus calms markets

March 24 (Reuters) - Canada’s main stock index rose at the opening bell on Tuesday, as investors around the world took comfort from the U.S. Federal Reserve’s offer of unlimited bond-buying.

Although market players did not expect the measure to mitigate the impact of the coronavirus pandemic, but hoped it could avert a global depression with the help of other state rescue packages.

The United States was also nearing a deal on a $2 trillion economic rescue package.

* At 9:33 a.m. ET (1333 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 710.27 points, or 6.33%, at 11,938.76. (Reporting by Shreyashi Sanyal in Bengaluru, Editing by Sherry Jacob-Phillips)

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