Commodities stocks buoyed Toronto markets Tuesday, as oil prices hit a record high and the gold sector closed up.
The S&P/TSX composite index surged ahead 112.35 points, or 0.82%, to close at 13,850.95.
But six of the 10 major TSX groups fell today.
The energy group closed up 1.81%, as crude-oil futures hit a record high of $US113.99 a barrel, earlier today. The May contract closed up US$2.03, or 1.8%, at US$113.79 on the New York Mercantile Exchange.
Encana Corp. shares closed up $1.53, or 1.87%, at $83.55 and Suncor stock gained $2.37, or 2.16%, to end at $112.12.
The materials group closed up 1.79%, as the gold sub-index rose 1.58%,
Gold for June delivery closed up US$3.30, or 0.4%, at US$932 an ounce on the Nymex.
Barrick Gold Inc. and NovaGold Resources announced they are looking into doubling the mining rate a project in Alaska. Barrick stock rose 55¢, or 1.25%, to close at $44.40, while NovaGold shares fell 10¢, or 1.27%, to end the session at $7.76.
The base metals sector closed up 1.58%. Eastern Platinum Co. shares gained 11¢, or 3.56%, to end at $3.20.
The financials group gained 0.82%.
In other corporate news, ADF Group Inc. shares gained 44¢, or 8.71%, to finish at $5.49, after the company reported a 2007 profit of $34 million, up from $10.4 million a year earlier.
The junior S&P/TSX Venture composite index closed down 0.29 points, or 0.01%, at 2,547.37.
The Canadian dollar closed out at US98.13¢, up 0.05 of a cent from yesterday’s close.
In New York, markets were buoyed by positive earnings from Johnson & Johnson as well as reports from the New York Federal Reserve report that regional manufacturing improved in April.
The Dow Jones industrial average gained 60.41 points, or 0.49%, to close out at 12,362.47. The S&P 500 rose 6.11 points, or 0.46%, to close at 1,334.43.
The tech-heavy Nasdaq rose 10.22 points, or 0.45%, to 2,286.04.