CANADA STOCKS-TSX hits 2-year high on soaring oil, banks

* TSX ends up 195.47 points, or 1.51 pct, at 13,148.35

* Index hits highest level since early September 2008

* Bank shares surge after National Bank ups dividend

* World stocks soar on easing euro fears, upbeat data
(Updates to close, adds quote)

By Jennifer Kwan

TORONTO, Dec 1 (BestGrowthStock) – Toronto’s main stock index rose
to its highest level in more than two years on Wednesday as
financials got a boost from a strong start to bank earnings
season, while concerns about euro zone debt eased.

The market was also boosted by better-than-expected
economic data in China, Europe and the United States, which
whetted investors’ appetite for risk globally, boosting oil and
metals prices. [MKTS/GLOB]

Top advancers on the TSX index included Royal Bank of
Canada (RY.TO: ) up 2.4 percent at C$56.24, and Bank of Nova
Scotia (BNS.TO: ), which climbed 1.9 percent to C$54.22.
Toronto-Dominion Bank (TD.TO: ) gained 0.8 percent to C$75.29.

Financial shares were up 1.7 percent a day after National
Bank of Canada (NA.TO: ) reported a jump in quarterly profit and
became the first major domestic bank to resume dividend hikes
in the wake of the financial crisis. It raised its dividend a
hefty 6.5 percent, spurring hopes that other banks will follow
suit. [ID:nN01155484]

National Bank was up 2.9 percent at C$69.82.

On euro zone debt, European Commission President Jose
Manuel Barroso said he had confidence the European Central Bank
would take whatever action was needed to protect the stability
of the euro. [ID:nLDE6B00QU]

Separately, a U.S. official told Reuters that Washington
would support boosting an EU rescue facility via IMF funds.
[ID:nLDE6B023Z]

“It’s that concerted effort towards supporting Europe that
set the tone for a strong rally,” said Francis Campeau, broker
at MF Global Canada in Montreal.

The Toronto Stock Exchange’s S&P/TSX composite index
(.GSPTSE: ) ended up 195.47 points, or 1.51 percent, at
13,148.35, chalking up its biggest percentage gain since
mid-November.

At one point the index touched 13,154.42, its loftiest
level since Sept. 8, 2008. All 10 of its sectors ended higher.

Canadian Natural Resources (CNQ.TO: ) shot up 4.5 percent to
C$41.28, while Suncor Energy (SU.TO: ) was up 2.9 percent at
C$35.39.

($1=$1.02 Canadian)
(Reporting by Jennifer Kwan; editing by Peter Galloway)

CANADA STOCKS-TSX hits 2-year high on soaring oil, banks