CANADA STOCKS-TSX hits 2-1/2 year high as global growth picture brightens

    * TSX rises 80.20 points, or 0.59 percent, to 13,772.58 
    * Eight of 10 main index sectors advance 
    * Magna up after giving sales forecast 
 
    By John Tilak 
    TORONTO, Jan 15 (Reuters) - Canada's main stock index 
climbed on Wednesday to its highest in 2-1/2 years as the World 
Bank's bullish forecast for global economic growth helped fuel 
broad gains and higher oil prices provided support to energy 
shares. 
    The World Bank raised its forecast for global growth for the 
first time in three years as advanced economies started to pick 
up pace, led by the United States.    
    The Toronto Stock Exchange's benchmark index has gained in 
six of the last seven sessions, with its resource sectors, which 
had a lackluster 2013, beginning to gather steam. 
    "The market reaction was to be expected. It is very much 
keeping with the thesis that strong global growth benefits the 
TSX," said Elvis Picardo, strategist and vice president of 
research at Global Securities in Vancouver. 
    "People are definitely turning more positive about the 
commodity groups," he added. "I believe that the TSX may 
actually outperform the S&P 500 this year." 
    In 2013, the TSX's growth trailed the S&P 500's    
performance. 
    On Wednesday, the Toronto Stock Exchange's S&P/TSX composite 
index    closed up 80.20 points, or 0.59 percent, at 
13,772.58, after touching 13,785.02, its strongest level since 
mid-2011.  
    Eight of the 10 main sectors on the index were higher. 
    Financials, the index's most heavily weighted sector, rose 
0.6 percent. Manulife Financial Corp    climbed 1.8 
percent to C$21.96, and Royal Bank of Canada    added 0.2 
percent to C$71.06. 
    Higher oil prices supported gains in the energy sector, with 
Suncor Energy Inc    advancing 0.3 percent to C$37.35. 
    The materials sector, which includes mining stocks, gained 
1.7 percent. Barrick Gold Corp    rose 1.5 percent to 
C$19.78. 
    Osisko Mining Corp    said it was considering Goldcorp 
Inc's    unsolicited C$2.6 billion ($2.4 billion) takeover 
proposal but viewed the 15 percent premium offered as "very 
low". Osisko shares added 0.3 percent to C$6.25, but Goldcorp 
shares slipped 0.3 percent to C$24.28.    
    Magna International Inc    forecast 2014 sales below 
analysts' expectations due to lower revenue in its complete 
vehicle-assembly business. Shares in the auto parts maker were 
nevertheless up 1.1 percent at C$93.12.    
    ($1=$1.09 Canadian) 
     
 
 (Editing by Peter Galloway and Nick Zieminski) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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