Toronto stocks surged ahead on Thursday, as energy and gold-mining issues bounced back from their recent slide.

The S&P/TSX composite index closed up 147.06 points, or 1.27%, at 11,704.31.

Overall, eight of the 10 main TSX groups advanced.

The oil and gas sector jumped 3.3% as crude oil prices climbed back above US$58 a barrel.

U.S. crude futures gained 81¢ to settle at US$58.46.

Suncor Energy Inc. shares jumped $3.27, or 4%, to $85.23.

The materials subindex followed with a 1.69% rise, as gold shares gained 2.95% on the back of stronger bullion prices.

Goldcorp added $1.12, or 4.1%, to $28.47.

The junior S&P/TSX Venture composite index gained 24.57 points, or 1.01%, to end at 2,461.69.

On Wall Street, U.S. stocks rallied, with the Dow hitting a fresh 4 1/2-year high, as computer and printer maker Hewlett-Packard Co. and retailer J.C. Penney Co. Inc. both posted earnings that beat Wall Street expectations.

The Dow Jones industrial average closed up 61.71 points, or 0.56%, at 11,120.68. The tech-heavy Nasdaq composite index rose 18.20 points, or 0.80%, to 2,294.63. The S&P 500 added 9.38 points, or 0.73%, to 1,289.38.