Toronto stocks rebounded on Tuesday, ending two days of sharp declines, as gains in the materials and financials sectors offset losses in the energy group.

The S&P/TSX composite index jumped 100.18 points or 0.74%, to finish at 13,705.14.

The financial sector was up 1% after Royal Bank said it will record a $360 million charge related to the subprime mortgage market, but will also post a $325-million restructuring gain related to Visa credit cards. Its shares climbed $1.58 to $52.12, while Bank of Nova Scotia gained 68¢ to $51.09.

The energy sector dipped 0.8% as oil prices tumbled after the International Energy Agency cut its demand forecasts and said crude supplies are rising.

The December crude contract on the New York Mercantile Exchange fell $3.45 to US$91.17 a barrel.

Petro-Canada declined $1.27 to $52.15 and Suncor Energy declined $2.25 to $97.81.

The gold sector moved ahead 1.8%, as the December bullion contract on the Nymex moved down $8.70 to US$799 an ounce. Kinross Gold improved 23¢ to C$17.04.

Gammon Gold said its third-quarter loss widened to US$44.9 million from US$15.1 million a year ago after a US$21 million income tax expense and its shares fell 94¢ to $7.33.

Iamgold reported that third-quarter profit jumped 45% to US$19.5 million and its shares advanced 30¢ to $8.68.

The junior S&P/TSX Venture composite index shed 6.30 points, or 0.21%, to finish at 2,946.32.

The Canadian dollar ended the session down 1.81¢ from Friday’s Bank of Canada close to US$1.0426.

Canadian banks were closed for the Remembrance Day holiday, so there was no official closing level on Monday.

In New York, U.S. stocks snapped a four-day losing streak.

The Nasdaq posted its biggest gain in more than four years after news that Apple was in talks to offer iPhones in China led bargain hunting investors to snap up battered technology stocks.

Reassurance from the chief executive of Goldman Sachs Group that the investment bank does not face big credit losses helped ignite a rally in financial stocks, easing some worries about the breadth of the credit crisis.

Retailers also caught fire when surprisingly strong earnings from Wal-Mart Stores.

Apple jumped 10.5%, while Goldman Sachs surged 8.5%, and Wal-Mart shot up 6.1%.

The Dow Jones industrial average surged 319.54 points, or 2.46%, to close at 13,307.09. The S&P 500 gained 41.87 points, or 2.91%, to end at 1,481.05. The tech-heavy Nasdaq composite index shot up 89.52 points, or 3.46%, to finish at 2,673.65.