The Toronto Stock Exchange’s benchmark index hit another record high Thursday as rising oil prices and strong commodities stocks pushed the index higher.

The S&P/TSX Composite index closed up 201.75 points, or 1.38%, at 14,828.06. Nine of the ten major TSX groups gained ground.

The materials group was the big advancer for the day, closing up 3.03%.

The gold sub-index gained 3.63%, as gold for June delivery climbed US$13.50, or 1.6%, to close at US$880 an ounce on the New York Mercantile Exchange.

Barrick Gold Corp. shares closed up $1.09, or 2.87%, at $39.05 and Goldcorp Inc. stock closed up $1.72, or 4.47%, at $40.20.

The financials group also helped buoy markets, gaining 1.62% for the day.

Sprott Inc. shares lost 16¢, or 1.60%, to end at $9.84, after it closed a $200 million initial public offering.

TD Bank Financial shares closed up 94¢, or 1.39%, at $68.51. Insurer Sun Life Financial Inc. shares gained $1.26, or 2.68%, to close at $48.20.

The heavyweight energy group closed flat, down just 0.17%. Crude oil for June delivery closed down 10¢, at a one-week low of US$124.12 on the Nymex as the June contract prepares to close next week.

Petro Canada Co. stock lost 31¢, or 0.55%, to close at $55.95, while Suncor Energy Inc. shares gained $1.51, or 2.38%, to end at $64.88.

Meanwhile, the base metals sector closed up 2.52%.

Lundin Mining Corp. shares closed up 68¢, or 8.83%, at $8.38, after its said Q1 profit jumped 51%, to $78.8 million.

The junior S&P/TSX Venture composite index closed up 8.40 points, or 0.33%, at 2,576.08.

The Canadian dollar closed out at par with the greenback, as Statistics Canada reported factory sales fell 1.6%, to $49 billion, in March, the first monthly retreat of 2008.


In New York, U.S. markets rallied despite weak economic data.

The U.S. Federal Reserve reported industrial production dropped 0.7% in April.

The Dow Jones industrial average closed up 94.28 points, or 0.73%, at 12,992.66.

The S&P 500 closed up 14.91 points, or 1.06%, to close at 1,423.57.

The tech-heavy Nasdaq composite index closed up 37.03 points, or 1.48%, at 2,533.73.