The Toronto stock market soared to another record high on Wednesday as weakness in metals was more than offset by strength in financial institutions ahead of their earnings reports.

The S&P/TSX composite index closed up 90.39 points, or 0.65%, at 14,025.03, a record high close. Earlier in the session, it hit a record high of 14,026.58.

The benchmark index is up 4.5% so far this month.

All but one of the 10 TSX main groups were higher, with the financial-services sector up 1%.

Manulife Financial rose 49¢, or 1.2%, to $39.99, while TD Bank shares climbed 85¢, or 1.2%, at $70.90.

ING Canada shares declined 86¢ to $48.70 after the insurer’s first-quarter profit declined to $126.2 million from a year-earlier $185.9 million.

Shares of oil and gas companies ended up 0.8% despite a slip in U.S. crude prices, which fell 62¢ to US$62.55 a barrel after a U.S. government report showed a strong rise in crude oil and gasoline stockpiles.

EnCana jumped $1.20, or 1.8%, to $66.75, while Suncor Energy rose $1.40, or 1.5%, at $92.20.

On the downside, materials slipped 0.3% on a slump in gold and base metal prices.

Shares of Barrick Gold slid 30¢, or 0.9%, to $32.86, while Goldcorp dipped 28¢, or 1.1%, to $25.79.

Teck Cominco fell 36¢, or 0.8%, to $45.

The health-care group was up 1.2% with shares of Biovail up 74¢, or 2.8%, at $27.67 after the drug maker said on its founder and chairman, Eugene Melnyk, will retire.

The news came one day after Melnyk received notice that U.S. securities regulators may take civil action against him.

The TSX Venture composite index dipped 29.66 points to 3,242.97.

The Canadian dollar slipped 0.42 of a cent to US90.59¢.

In New York, stocks jumped on Wednesday as a major investor disclosed a stake in Citigroup.

Shares of Citigroup climbed 4%, and were the top driver of the Dow in its 22nd record close this year, after a hedge fund run by Edward Lampert disclosed it owned 15.2 million shares in the largest U.S. bank.

The Dow Jones industrial average gained 103.69 points, or 0.77%, to closed at 13,487.53, a new record. The S&P 500 was up 12.95 points, or 0.86%, at 1,514.14. The Nasdaq composite index gained 22.13 points, or 0.88%, at 2,547.42.

The Dow also hit an all-time intraday high of 13,489.57 just before the close.