Toronto stocks closed higher Thursday as energy stocks rose in response to higher commodity prices. The S&P/TSX composite index jumped 33.46 points to 7,993.34.

The TSX energy advanced 3.1% index, while the gold index slipped 1.4% as bullion prices fell.

Oil futures gained as OPEC ministers signalled that production quotas may be cut at their next meeting in February.

Petro-Canada gained $2.88 to $58.84; Talisman Energy rose $1.77 to $70.02; EnCana gained $1.63 to $50.40.

Natural gas prices surged US58¢ US to US$6.34 after the U.S. Energy Department reported a larger-than-expected draw-down in gas inventories. A cold snap and a forecast storm in the U.S. northeast were also getting some of the blame.

Canadian Natural Resources was up $1.25 to $60.35; Compton Petroleum, another producer with a big gas exposure, was up 19¢ to $6.04.

Gold futures fell US$1.30 an ounce to US$403.50. Placer Dome shares were down 19¢ to $23.55.

In earnings news, National Bank shares slipped 19¢ to $41.50, despite reporting record 2003 earnings and boosting its dividend 18%.

Gildan Activewear reported weaker Q4 sales. Its shares fell 95¢ to $36.12.

The junior S&P/TSX venture composite index fell 7.53 points to close at 1,704.15.

In New York, the Dow Jones industrial average rose 57.40 points to 9,930.82. The tech-heavy Nasdaq composite Index gained 8.50 points to close at 1,968.80. The S&P 500 added 4.99 points to finish at 1,609.72.

The Canadian dollar fell 0.74 if a cent to US76.21¢ ahead of Friday’s unemployment reports.