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TSX Rallies Late to Finish with 0.3% Gain; Energy Stocks Carry Load, Supported by Utilities, Consumer Issuers

Canadian stocks rallied during the final 90 minutes of the session, shaking off lingering ennui over sporatic attempts by European officials to rein in the region's debt problems to finish the day with smallish gains.

The S&P TSX Composite Index closed at 11,753.53, up nearly 37 points after being underwater as late as 3:20 p.m. ET. Energy stocks provided much of the upward momentum, rising throughout the afternoon with the February crude contract moving to front-month status at the CME Group with a 1.7% advance to $98.88 a barrel.

The early defensive tone did not leave entirely, however, with consumer staple and utilities holding onto gains throughout the day. Financial and industrial stocks also posted small increases. Metals and mining stocks were lower.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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