Toronto stocks were lifted by resource and energy stocks issues Wednesday, as the financials sector continued to struggle.

The S&P/TSX composite index closed up 126.51 points, or 0.94%, at 13,603.32.

Four of the 10 major TSX groups made gains today.

The financials group fell 0.19%.

CIBC stock shed 76¢, or 1.17%, to finish at $64.43.

Meanwhile, Bank of Montreal shares closed down $1.86, or 3.97%, to end at $45.03.

The materials group gained 2.32%.

The gold sub-index moved up 2.97% as gold surged to a record high US$995.20. The April contract ended up US$22.20 at US$988.50 an ounce on the New York Mercantile Exchange.

Goldcorp shares rose $1.34, or 3.16%, to end at $43.81. Kinross Gold Corp. gained $1.18, or 4.75%, to finish at $26.04. Barrick Gold Corp. shares gained $1.20, or 2.36%, to close at $52.10.

The heavyweight energy group moved ahead 2%. Suncor Energy Inc. gained $2.62, or 2.5%, to $107.43 and Talisman Energy Inc. jumped 62¢, or 3.66%, to $17.57.

Oil prices hit a record high of more than US$104, after OPEC announced it won’t boost production. Crude for April delivery rallied US$5, or 5%, to finish at $104.52 a barrel on the Nymex.

In individual stocks, Mega Brands Inc. shares gained 50¢, or 10%, ending at $5.50, after it said it plans to sell the U.S.-based stationery and crafts business it bought in 2005 for US$350 million.

The junior S&P/TSX Venture composite index closed up 51.31 points, or 1.86%, at 2,803.34.

The Canadian dollar closed at US$1.01 today.

In New York, stocks struggled to remain in the black after the U.S. Federal Reserve’s weak beige book summary and news that bond insurer Ambac Financial Group plans to sell US$1.5 billion in stock.

The Dow Jones industrial average rose 41.19 points, or 0.34%, to 12,254.99.

The S&P 500 ended the session up 6.95 points, or 0.52%, at 1,333.70. and the tech-heavy Nasdaq gained 12.53 points, or 0.55%, to 2,272.81.