The Toronto stock market has surged 16 percent following moves by governments in the United States and Europe to recapitalize major banks and try to unfreeze global credit markets.
After being closed Monday for Canadian Thanksgiving, the S&P/TSX composite index ran ahead 1,428.86 points Tuesday to 10,494.02 as investors snapped up beaten-down bank shares, and energy stocks got a lift from a big comeback in oil prices.
Sharply higher crude prices and a weaker American currency sent the Canadian dollar up 2.75 US cents to 87.4 US cents after dropping 2.6 US cents last Friday.
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