CANADA STOCKS-TSX rallies on economic reports, Addax deal

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TORONTO, June 24 | Wed Jun 24, 2009 10:25am EDT

TORONTO, June 24 (Reuters) - Toronto's main stock index rallied 2 percent on Wednesday morning as new reports fanned optimism about economic recovery, while investor sentiment was boosted by news that China's Sinopec Group will buy Addax Petroleum AXC.TO for C$8.27 billion.

The S&P/TSX composite index .GSPTSE was up 201.29 points, or 2.03 percent, at 10,098.01. (Reporting by Jennifer Kwan; editing by Peter Galloway)

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