* TSX up 190.77 pts, or 1.6 pct, to 12,299.97
* Materials, energy sectors rise more than 2 pct
* Gold, oil prices rise
* Greece, Euro fears still weigh
By Jon Cook
TORONTO, Nov 2 Toronto's main stock index
jumped more than 1 percent on Wednesday, following two days of
sharp losses on Greek debt concerns, as energy and mining
stocks followed commodity prices higher.
Oil, copper and other commodities all rose, helped by
upbeat U.S. jobs data, following their vicious sell-off on
yesterday's surprise announcement of a Greek referendum vote on
a euro zone rescue package.
Still, investors' concern about the solvency of Greece and
the euro zone's financial stability were expected to continue
to set direction for the resource-heavy Canadian market.
"What's driving the market today is the macroeconomic
European stuff and the sentiment swing surrounding that," said
Rick Hutcheon, president and chief operating officer at RKH
The Toronto Stock Exchange's S&P/TSX composite index rose 190.77 points, or 1.6 percent, to 12,299.97 late
on Wednesday morning, following a two-day decline to start the
The heavily weighted materials sector, up 2.5 percent,
played the biggest role in lifting the market, with the base
metal miner subsector up 3.4 percent and gold producers up 2.4
Materials were led higher by Barrick Gold, which climbed
for the second straight day, rising 2.9 percent to C$51.72.
Potash Corp was also up 2.6 percent to C$47.68.
The energy sector also rallied after a 3 percent fall the
previous day, gaining 2.2 percent as oil prices rebounded
Suncor Energy , up 2.6 percent to C$31.73, and
Canadian Natural Resources , up 2.9 percent to C$35.05,
were the biggest gainers.
Hutcheon said the market appeared to be getting close to
setting a bottom, noting: "We're probably getting down to the
levels where we're reasonably oversold and selective value in
the Canadian marketplace is starting to creep in."