TORONTO (Reuters) - The Toronto Stock Exchange's main index leaped more than 150 points for a second straight session yesterday, boosted by multi-billion-dollar take-over deals for BCE and Aur Resources.The S&P/TSX composite index closed up 158.17 points, or 1.1 percent, at 14,064.74. All but one of the index's 10 main groups were up, helping it to a combined gain of 2.5 percent over the last two trading days. The only losing sector was health care, down 0.2 percent.

"There are continued expectations that we'll see acquisitions but also underlying strength that even if companies aren't acquired, earnings should be better," said Kate Warne, market strategist at Edward Jones in St. Louis, Missouri.

The weekend sale of BCE , Canada's biggest telecoms company, to a consortium led by Ontario Teachers' Pension Plan for C$51.7 billion lifted BCE stock — up 91 Canadian cents, or 2.3 percent, at C$41.25 — and other members of Toronto's telecoms group.

The country's number two phone company, Telus, which pulled out of the BCE bidding war, advanced 83 Canadian cents, or 1.3 percent, to C$64.60, while Rogers Communications added 82 Canadian cents, or 1.8 percent, to C$46.24.

Warne said that because BCE ultimately secured a higher bid price than expected, other telecoms are therefore worth more.

"There's some speculation that losers in the bid for BCE might go after other telecoms, but I think also there's some expectation that Telus may make a bid for BCE, even though it appears BCE will be acquired," Warne said.

Miner Teck Cominco's C$4.1-billion take-over bid for Aur Resources lifted Teck shares 1.3 percent to C$45.80 and Aur's stock 31.1 percent to C$41.56. Completion of the deal would immediately boost Teck's cash flow and production of copper, the price of which touched seven-week highs.

Although take-overs have thinned the ranks of Canadian miners over the last couple years, M&A speculation was seen boosting mid-tier companies in the TSX materials sector, which jumped 2.7 percent.

A regulatory filing showed that Alcan refused requests by hostile suitor Alcoa Inc. for a meeting to discuss Alcoa's take-over bid. Alcan was among the TSX index's biggest weighted gainers, up C$1.93, or 2.2 percent, at C$88.83.