* TSX up 120.85 points, or 1.01 percent, at 12,063.02
* Nine of the TSX's 10 main groups were higher
TORONTO, Jan 19 (Reuters) - Canada's main stock index rose
more than 1 percent in morning trade on Tuesday, led by
financial shares and helped by telecoms and some consumer
stocks.
The move echoed a similar gain for U.S. indices, which were
closed for a holiday Monday when Toronto fell 1.1 percent.
Shares in Europe and Asia also rose as data showing China's
economy grew last year at its slowest pace in a quarter of a
century led investors to anticipate more efforts by Beijing to
spur growth.
At 10:09 a.m. EST (1509 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 120.85 points, or 1.01
percent, at 12,063.02. It is just off its lowest levels since
June 2013.
Oil prices were pressured by an Iranian order to sharply
increase output, although data pointing to record Chinese oil
demand in 2015 boosted sentiment.
The energy group climbed 1.3 percent.
Banks and other financial stocks were influential, with
Royal Bank of Canada RY.TO up 1.1 percent to C$67.57 and
Manulife Financial Corp MFC.TO adding 1.1 percent to C$18.06.
Telecoms climbed 1.2 percent, with Rogers Communications Inc
RCIb.TO jumping 2.2 percent to C$49.31 and BCE Inc BCE.TO
rising 1.7 percent to C$55.02.
Progressive Waste Solutions Ltd BIN.TO jumped 8.8 percent
to C$36.78 after agreeing to a reverse merger that will make it
part of the third-biggest waste management company in North
America.
Industrials rose 0.7 percent.
The consumer groups were broadly higher, with staples up 1.4
percent and discretionary adding 1.3 percent.
Convenience store operator Alimentation Couche-Tard
ATDb.TO rose 2.2 percent to C$59.24 and car parts maker Magna
International Inc MG.TO gained 1.7 percent to C$49.32.
Potash Corp POT.TO shares gained 3.4 percent to C$23.81
after it said it would suspend operations at a New Brunswick
mine, cutting more than 400 jobs.