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Canadian Stocks Show Strong Move Back To The Upside

Canadian stocks showed a significant move back to the upside during trading on Thursday following the sharp pullback seen over the course of the previous session.

After ending Wednesday's trading at its lowest closing level in well over a month, the S&P/TSX Composite Index surged up 297.43 points or 1.5 percent to 20,762.03.

Consumer stocks have helped lead the rebound on Bay Street, with the S&P/TSX Capped Consumer Staples Index and the S&P/TSX Capped Consumer Discretionary Index jumping by 2.5 percent and 2.7 percent, respectively.

Healthcare stocks also bounced back strongly, driving the S&P/TSX Capped Health Care Index up by 2.6 percent following the 5.3 percent nosedive seen in the previous session.

An increase by the price of crude oil also contributed to notable strength among energy stocks, as reflected by the1.4 percent gain posted by the S&P/TSX Capped Energy Index.

Financial, industrial and real estate stocks also turned in strong performances on the day, while gold stocks moved lower along with the price of the precious metal.

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