The Toronto stock market rebounded on Thursday, gaining more than 150 points on bargain hunting. The S&P/TSX composite index closed up 158.88 points, or 1.2%, at 13,813.62.

Nine of the 10 main TSX main sectors were higher, led by energy, financials and materials.

The TSX energy sector jumped 1.2% as results from two of three big oil and gas companies topped expectations, and U.S. crude oil futures added 33¢ cents to US$76.86 a barrel.

Canadian Natural Resources gained $1.90, or 2.7%, to $73, and Talisman Energy rose 21¢, or 1.1%, to C$19.21.

Coming in on the wrong side of profit expectations, Imperial Oil earnings fell 15%, sending its shares down 67¢, or 1.4%, to $48.51.

The materials sector surged late in the day to close nearly 1% higher, while financials jumped 1.5%, recovering the previous day’s losses.

Royal Bank of Canada shares were up $1.08, or 2%, at $54.85.

The information technology group advanced 0.8%. Research In Motion was the session’s biggest weighted gainer, up $8.60, or 3.8%, at $236.10.

Nortel Networks was the day’s biggest weighted loser, down $1.35, or 5.9%, at $21.57 as it swung to a second-quarter loss.

The junior S&P/TSX Venture composite index gained 14.70 points, or 0.48%, to finish at 3,104.82.

The Canadian dollar rose 0.37 of a cent to US94.93.

In New York, U.S. stocks rose a late-day rally as enthusiasm about strong earnings tempered nervousness about more weakness in credit conditions.


The Dow Jones industrial average gained 100.96 points, or 0.76%, to end at 13,463.33. The S&P 500 rose 6.39 points, or 0.44%, to 1,472.20. The Nasdaq composite index gained 22.82 points, or 0.89%, to 2,575.98.