TSX US markets jump on new eurozone rescue plan

TORONTO — The TSX saw a big triple digit bounce just after the open Friday as commodity prices rose and European leaders appeared to have made some serious progress on solving their persistent debt crisis.The S&P/TSX Composite index moved ahead 170.57 points to 11,595.27.The Canadian dollar jumped 1.24¢ to US98.06¢ as investor sentiment improved.Markets had grown increasingly doubtful about the ability or willingness of the European Union to take action that would avert a broadening crisis. But leaders in Brussels on Friday revealed a new plan to send EU bailout funds directly to struggling banks and to ease austerity measures on the most debt-troubled countries.The August crude contract moved up US$3.61 to US$81.60 on the New York Mercantile Exchange.The August gold contract gained US$43.90 to US$1,594.30 an ounce, while the July copper contract moved up US12¢ to US$3.45 a pound.On Wall Street, the Dow Jones added 182.77 points to 12,785.88 and the S&P 500 was up 20.84 points to 1,349.88, while the Nasdaq gained 50.6 points to 2,900.09.The Canadian Press

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