(Adds details, updates price action)
* TSX ends up 224.08 points, or 1.77 percent, at 12,919.57
* All of the TSX's 10 main groups move higher
By Alastair Sharp
TORONTO, Dec 15 (Reuters) - Canada's main stock index jumped
on Tuesday, a day after hitting a more than two-year low, in a
broad rally led by shares in energy companies as crude prices
rose and as heavyweight bank stocks also gained.
But the most influential mover on the index was Valeant
Pharmaceuticals International Inc VRX.TO , which surged 15.9
percent to C$149.75 after the company, which has been accused of
price gouging, said it would sell its skin and eye products at a
discount in more than 8,000 Walgreens Boots Alliance Inc's
WBA.O pharmacies in the United States.
The energy group climbed 2.4 percent as oil prices moved off
multi-year lows. Canadian Natural Resources CNQ.TO advanced 3
percent to C$29.67 and Suncor Energy Inc SU.TO rose 1.7
percent to C$35.13. O/R
Energy stocks are down almost 30 percent this year, and fell
sharply after an OPEC meeting earlier this month failed to agree
production cuts amid a global supply glut.
"Those stocks have been particularly hard hit in the last
little while," said Michael Sprung, president at Sprung & Co
Investment Counsel. "I don't think you can read too much into
one day with a bit of a reversal here."
The heavyweight financial group climbed 1.4 percent, with
Royal Bank of Canada RY.TO advancing 1.7 percent to C$73.65
and Toronto-Dominion Bank TD.TO rising 1.3 percent to C$53.92.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended up 224.08 points, or 1.77 percent, at 12,919.57.
On Monday, it had fallen to its lowest level since August
29, 2013.
Advancing issues outnumbered decliners by 192 to 41, with
all 10 of the index's main groups in positive territory.
Hudson's Bay Co HBC.TO gained 4.9 percent to C$17.55 after
the Wall Street Journal reported it was close to buying online
retailer Gilt Groupe.
Investors are awaiting Wednesday's conclusion of a Federal
Reserve policy meeting at which the U.S. central bank is widely
expected to raise interest rates for the first time in nearly a
decade.
Sprung said the outlook for Canadian equities in 2016 should
be brighter than their performance in 2015.
"At some point, we're likely to see a turn in the commodity
and energy sectors, and even barring that I think that we may
see some positive results in some of the financials if interest
rates start going up," he said.
A Reuters poll this week showed investors expect the index
to gain 10 percent next year.