The Toronto stock market broke away from a two-day losing streak Wednesday, as bargain hunting investors snapped up stocks.

The S&P/TSX composite index rose 225.25 points, or 1.7%, to close at 13,490.12. The jump reversed the 222-point plunge in Tuesday’s session.

All of the index’s 10 main groups advanced, including the key energy and materials sectors, which rose 1.65% and 2.2% respectively.

In the resource-rich materials group, mining powerhouse Barrick Gold gained 91¢, or 2.8%, to finish at $33.75.

The energy sector benefited as oil prices rocketed to US$73.53 a barrel after a sharp drop in U.S. crude and gasoline stockpiles revived supply concerns.

The financials group jumped 1.31%.

Shares of BlackBerry maker Research In Motion were the session’s top net gainer, advancing $4.50, or 5.5%, to $86.80.

Bombardier shares climbed 46¢ to $6.19 after the company said demand for its regional jets is strong enough for the company to cancel previously announced layoffs and perhaps recall some laid-off workers.

The junior S&P/TSX Venture Exchange was up 26.53 points to 2,589.46.

The Canadian dollar rose 0.41 of a cent to US94.3¢.

In New York, U.S. stocks also rebounded on Wednesday, pushing the Nasdaq to its best day in more than a year,

The Dow Jones industrial average was up 247.44 points, or 1.90%, at 13,289.29. The S&P 500 was up 31.40 points, or 2.19%, at 1,463.76. The Nasdaq composite index was up 62.52 points, or 2.50%, at 2,563.16 — its best day since June 29, 2006.