TSX Jumps 1.2% As Oil Rebounds -- Canadian Commentary

(RTTNews) - Canadian stocks rallied Wednesday, with rebounding oil prices giving energy producers a big lift amid the latest interest rate decision from the Federal Reserve.

The Fed kept interest rates at zero but said it would debate raising interest rates in December.

Still, policy makers gave no hint that tightening is imminent.

The benchmark S&P/TSX Composite Index rose 163.56 points or 1.19 percent to 13,863.16, more than erasing Tuesday's losses.

Energy stocks jumped 2.68 percent. After three days of losses, Dec. oil settled at $45.94/bbl on Nymex, up $2.74, or 6.3%.

Gold stocks edged lower amid uncertainty about the Fed's next move.

Health care shares continued to rebound after last week's Valeant-led drubbing. The Health Care Index rose 3.8 percent.

Canadian Pacific Railway (CP.TO) eased 0.9 percent. The company has appointed Jeffrey J. Ellis as Chief Legal Officer and Corporate Secretary effective December 1. He will replace Paul Guthrie, who is retiring.