Toronto stocks closed higher for the fifth straight day on Thursday, as rising commodity prices pushed up energy and metals issues.

The S&P/TSX composite index gained 94.76 points, or 0.7%, at 14,129.73.

Seven of the 10 TSX main groups advanced, including a 1% gain in the energy sector and a 1.2% gain in materials.

The energy sector got a big boost from the price of U.S. crude oil, which spiked $2.58 to $US82.88 a barrel as a weak U.S. dollar and supply worries spurred futures buyers.

Suncor Energy shares jumped up $2.17, or 2.3%, at $95.71.

The soft greenback also lifted gold futures.
Barrick Gold added 58¢, or 1.5%, to $39.33.

The financial sector gained 0.6%.

TD Bank shares gained $1.13, or 1.5%, at $76.26.

The junior S&P/TSX Venture composite index rose 30.42 points, or 1.09%, to 2,832.25.

The Canadian dollar remained stronger Thursday after the federal government announced a larger-than-expected surplus and as a weak U.S. home sales report sent the greenback lower against other global currencies.

The government estimated the surplus swelled to about $14 billion in the last fiscal year, far greater than the $9.2 billion forecast in the last budget.

The loonie closed up 0.22 of a cent to US99.8¢.

On Wall Street, U.S. stocks edged up on Thursday as higher oil prices lifted energy companies’ shares

The Dow Jones industrial average gained 34.79 points, or 0.25%, to end at 13,912.94. The S&P 500 was up 5.96 points, or 0.39%, at 1,531.38. The Nasdaq Composite Index was up 10.56 points, or 0.39%, at 2,709.59.

Meanwhile, U.S. new-home sales resumed falling in August, sinking 8.3%, the lowest level in seven years. Prices tumbled, signaling the housing sector will remain a drag on the U.S. economy.