Toronto stocks rose Tuesday as mining company shares got a lift from news that Xstrata boosted its takeover offer for LionOre Mining International.

The S&P/TSX composite index closed up 31.36 points, or 0.23%, at 13,934.64.

Overall, six of the 10 TSX main groups were higher, with the resource-laden materials group up 0.7%.

LionOre Mining jumped $3.16, or 13.3%, to $26.86 after Xstrata boosted its offer for LionOre to a total value of $6.2 billion, trumping a bid from Russia’s Norilsk Nickel.

The bid helped to boost other mining companies including Teck Cominco which rose 23¢, or 0.5%, to $45.36.

Tame inflation data in the United States also helped to buoy the market, pushing the heavyweight financial services sector up 0.4%.

Figures on Tuesday showed U.S. consumer prices advanced 0.4% in April on a continued rise in energy and food prices, but that was below expectations and painted a stable inflation picture.

Shares of Bank of Nova Scotia were up 46¢, or 0.9%, at $53.80, while Manulife Financial rose 30¢, or 0.8%, to $39.50.

The energy sector moved 0.25% lower, with the June crude oil contract on the New York Mercantile Exchange gaining 71¢ to US$63.17 a barrel. Suncor Energy gave back $1.40 to $90.80.

The gold sector eased 0.6% with the June bullion contract on the Nymex up $4.40 to US$674.50 an ounce.

Iamgold fell 35¢ to $7.77 after first-quarter earnings declined to US$11.3 million from US$19.9 million on higher costs.

The junior S&P/TSX Venture composite index slid 37.02 points to 3,272.63.

The Canadian dollar surged 0.68 of a cent to US91.01¢, the highest close since June 2006.

In New York, The Dow Jones industrial average rose to a record high close, as signs of stabilizing inflation raised the prospect of lower interest rates, boosting the outlook for business investment.

The Dow rose 37.06 points, or 0.28%, to end at 13,383.84, a record close. The S&P 500 was down 1.96 points, or 0.13%, at 1,501.19. The tech-heavy Nasdaq composite index was down 21.15 points, or 0.83%, at 2,525.29.

The Dow also hit a record intraday high of 13,481.60.