The Toronto stock market posted a modest gain after a volatile trade Wednesday, following yesterday’s 400-point plunge.

The S&P/TSX composite index closed up 37.16 points, or 0.26%, at 14,105.32,

The TSX energy sector was up 1.9% after falling almost 4% Tuesday as the price of oil stabilized. The September crude contract on the New York Mercantile Exchange was up US$2.32 to US$75.88 a barrel after the U.S. Department of Energy reported increases in gasoline inventories and refinery utilization, and declines in inventories of crude oil.

EnCana shares were $1.88 higher at $64.60 after the company said its second-quarter profit fell 33% to US$1.45 billion, from US$1.94 billion a year earlier when there were major one-time gains.

Canadian Oil Sands Trust reported its first net loss and is considering converting into a regular corporation. Its shares rose $1.10 to $34.25.

Industrial stocks dropped almost 1%.
Canadian National fell $1.01 to $56.02, while Canadian Pacific Railway lost $1.92 to $81.68.

The gold sector fell 1% as the U.S. dollar strengthened, with the August bullion contract on the Nymex down US$11 to US$673.80. Goldcorp declined 48¢ to $27.72.

The junior S&P/TSX Venture composite index declined 28.01 points, or 0.85%, to 3,225.07.

The Canadian dollar stepped back from Tuesday’s jump of more than eight-tenths of a U.S. cent. The currency slipped 0.27 of a cent to US96.09¢.

In New York, stocks ended higher on strong earnings reports from Amazon.com and Boeing after Tuesday’s sharp losses

The Dow Jones industrials finished up 68.12 points to 13,785.07.

The Nasdaq composite index moved up 8.31 points to 2,648.17 and the S&P 500 index was ahead 7.05 points to 1,518.09.