The financials sector which accounts for about a third ofthe TSX index weighting climbed 2

The financials sector, which accounts for about a third ofthe TSX index weighting, climbed 2.7 percent after analystMeredith Whitney upgraded Goldman to a “buy” rating.[ID:nBNG121776] “Meredith Whitney seems to be the financial analyst thatpeople pay attention to,” said Steve Ibel, institutionalequities trader at Beacon Securities in Halifax. “It will givethe market a bit of a lift in the financial sector. But itprobably will be a one-day event.” Four of the top five heavyweight advancers were from thefinancial group, led by Royal Bank of Canada (RY.TO), up 3.04percent at C$46.50. Manulife Financial (MFC.TO) followed, up 4.2 percent atC$20.03, while Bank of Nova Scotia (BNS.TO) rose 2.52 percentto C$41.49, and Toronto-Dominion Bank (TD.TO) was up 2.2percent at C$58.05.

The S&P/TSX composite index .GSPTSE closed up 144.80points, or 1.49 percent, at 9,891.93 Earlier in the day itfell more than 1 percent All 10 main groups were higher. The financial sector’sgains paled in comparison with those of its U.S. counterpart,but it made a strong attempt to catch up and vaulted more than1 percent higher late in the session “The U.S financials are on fire. Our financials are up,but nothing to what we’re seeing in the States,” said FrancisCampeau, broker at MF Global Canada in Montreal U.S. stocks rallied more than 2 percent as bullish commentson financial sector performance lifted hopes that U.S. banks’quarterly results may be stronger than expected.[ID:nN13205956] Most sectors accelerated gains late in the session and someturned positive in the closing minutes.

The energy group rose1.28 percent, despite oil prices that briefly dropped totwo-month lows. [ID:nSYD73698] The materials group, home to mining stocks, turned higheras gold futures rallied above $920 an ounce in a technicalrally [ID:nLD600919]The sector rose 1.07 percent. Fertilizer producer Potash Corp (POT.TO) was one of thebiggest drags on the index, limiting gains in the materialsgroup. Potash Corp fell 1.1 percent to C$98.05 after the head ofIndia’s IFFCO, a farmer fertilizer cooperative, said that threeinternational companies have agreed to supply Indian buyerswith potash well below current spot market prices.[ID:nBNG121776] A brighter Canadian business outlook in a pair surveys bythe Bank of Canada helped to push the Canadian dollar about 1percent higher versus the U.S dollar, which in turn also gavea lift to the TSX. The surveys reinforced other data suggesting the recessionmay have hit bottom, and that companies may face fewer hurdlesin getting financing in coming quarters. [ID:nN13381629] ($1=$1.15 Canadian) (Additional reporting by Nina Lex; editing by Peter Galloway) Stocks Stocks.