The Toronto stock market climbed for a fourth straight day on Wednesday, boosted by rising financial issues.

The S&P/TSX composite index advanced 37.35 points, or 0.27%, to 14,034.97.

The financial group rose 0.8%, as Royal Bank shares jumped 69¢ to $54.84.

Shares in CI Financial Income Fund fell 30¢ to $26.50 after it dropped its stipulation that two Scotiabank deals be dropped before its $2.4 billion takeover offer for money manager DundeeWealth Inc. can go ahead.

Dundee Wealth shares were up $1.32 or 7.77%, to $18.30.

The junior S&P/TSX Venture composite index gained 0.44 of a point to end at 2,801.83.

The Canadian dollar moved away from parity with the greenback following comments from Bank of Canada governor David Dodge.

The loonie fell 0.06 of a cent to US99.58 after Dodge suggested Tuesday that the central bank may need to leave its key interest rate unchanged in its next scheduled announcement October 16.

In New York, U.S. stocks rose as a labor agreement at General Motors Corp. promised to cut costs for Detroit’s automakers, while a report that Bear Stearns may sell a stake to outside investors lifted brokerage stocks.

The Dow Jones industrial average gained 99.50 points, or 0.72%, to end at 13,878.15. The S&P 500 climbed 8.21 points, or 0.54%, to 1,525.42. The Nasdaq composite index rose 15.58 points, or 0.58%, to close at 2,699.03.