Stocks in Toronto closed higher today, due to strength in the energy and gold sectors. The Toronto Stock Exchange 300 composite index finished up 46.02 points at 7,917.70.

Oil and gas stocks jumped 3.06% on stronger commodity prices. Alberta Energy Co. rose $2.51 to $72.76, while Talisman Energy gained $2.49 to $67.69.

Overall, 10 of the 14 TSE sub-indices moved up. The gold and precious minerals index grew 5.28% sparked by New York bullion that pushed up $2.20 to $292.10. Gold traders are hoping that gold may make another run at the $300 level. Gold stocks gained across the board, led by Goldcorp, which rose $2.65 to $25.00, and Meridian Gold , up $2.66 to $19.80.

The industrial products subgroup fell 1.60%, as sector heavyweight Nortel Networks fell 65¢ to $7.36 after several downgrades from analysts.

The S&P/CDNX Composite Index closed up, 4.47 today at 1154.92. Trading was heavy — 36.6 million shares worth 15.4 million dollars, with 206 advances, 222 declines and 557 issues unchanged.

South of the border, stocks finished mixed. Blue chips fell but the broader market was steady, as traders awaited the outcome of tomorrow’s meeting of the rate-setting Federal Reserve. There is some concern that the Federal Open Market Committee may start raising rates sooner than expected.

The blue-chip Dow Jones industrial average fell slightly – 29.48 points to 10,577.75. The Standard & Poor’s 500 Index finished almost flat, down 0.59 of a point at 1,165.55. The NASDAQ composite index added a mere 8.76 points to 1,877.06.