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.

“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

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

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

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