Canada’s main stock index recovered from early trading weakness to move to its highest closing in nearly three months on the strength of the heavyweight financials sector.

The S&P/TSX composite index closed up 123.91 points at 15,272.03, the highest level since March 6.

In New York, the Dow Jones industrial average was up 553.16 points at 25,548.27. The S&P 500 index was up 44.36 points at 3,036.13, while the Nasdaq composite was up 72.14 points at 9,412.36.

The Canadian dollar traded for US72.57¢ compared with an average of US72.44¢ on Tuesday.

The July crude contract was down US$1.54 at US$32.81 per barrel and the July natural gas contract was down 5.9 cents at nearly US$1.89 per mmBTU.

The August gold contract was down US$1.40 at US$1,726.80 an ounce and the July copper contract was down 3.65 cents at US$2.38 a pound.