A string of upbeat earnings reports from the financial and energy sectors help lift the S&P/TSX composite index100.52 points, or 1.16%, to 8,737.84.

Energy stocks were up 2%, while the heavily weighted financial index rose1.7%.

TD Bank, whose quarterly profit jumped 74%, was up $1.18 at $44.83, while CIBC shares rose $3.03 to $67.90 after it posted a 37% rise in quarterly profit.

Shares of EnCana fished up $1.25 at $57.30 following news that energy firm boosted its profit, cash flow and dividend.

Technology issues climbed 1.7% as many investors seem to feel there are still bargains left in the sector.

Nortel Networks, the day’s most active stock, gained 15¢ to $10.43, while Celestica added 98¢ to close at $23.84.

Market momentum was positive as 745 issues advanced and 512 declined. Volume during the session was moderate as 247 million shares changed hands.

The junior TSX Venture composite index rose 15.67 to close at 1,866.17.

U.S. markets finished mixed as mixed, as American factory orders for big-ticket goods dropped 1.8% in January. However, orders were up 2%, excluding a steep decline in aircraft and other transportation equipment.

The Dow Jones industrial average closed down 21.48 points at 10,580.14, while the tech-heavy Nasdaq composite index rose 9.59 points to 2,032.57. The S&P 500 was up 1.25 at 1,144.92.

The Canadian dollar traded down 0.39¢ at US74.5¢ after Statistics Canada said the current account surplus declined by $1.2 billion, to $6.7 billion, in the fourth quarter.

Statistics Canada also reported that retail sales dropped 1.2 per cent in December, although wholesale sales edged up.