Toronto markets posted healthy gains for the second consecutive day as higher oil prices pushed energy shares, with help coming from end-of-quarter portfolio adjustment. New York markets were mostly lower on a mix of news about crude prices and about U.S. incomes and consumer spending.

At midday, the Toronto Stock Exchange S&P/TSX composite index was up 84.78 points or 0.89% at 9569.04 after posting an 89-point gain Wednesday. The TSX Venture exchange was up 28.81 points or 1.56% to 1873.16 after losing 11 points the previous session.

In New York, the Dow Jones industrial average was down 25.20 or 0.24% at 10515.73 after jumping 135 points Wednesday. The broader gauges were mixed. The Standard & Poor’s 500 index rose 0.52 or 0.04% to 1181.93. The Nasdaq composite index fell 6.31 or 0.31% to 1999.36.

The Canadian dollar advanced against the U.S. dollar, adding 0.5 of a cent to US88.67¢. The C$ weakened marginally early in the morning after a report showed Canada’s economy grew 0.2% in January, less than the 0.4% rise expected by analysts.

On the TSX, the gain was led by a 2.93% jump in oil stocks, while the metals and mining sub-group added 2.52%. Gold stocks were ahead 0.83% as a group. All but three of 13 sub-groups were down, with tech shares carrying most of the losses, down 0.98%.

Energy stocks got a boost as oil prices bounced back above US$54 a barrel as traders returned their focus to falling gasoline stockpiles and an easing U.S. dollar. Crude oil for May delivery increased 2 percent to US$55.09 a barrel in electronic trading on the New York Mercantile Exchange. Prices reached a record US$57.60 a barrel two weeks ago.

The price of gold in London climbed to near a one-week high as the dollar declined against the euro and the yen, boosting the metal’s appeal as an alternative to U.S. assets.

While higher oil prices were driving energy shares, the market was also getting a boost from a pick-up in buying close to the end of the first quarter — known as “window-dressing” as fund managers buy shares to boost their portfolios.

In New York, investors weighed a rise in U.S. incomes and consumer spending against lofty oil prices, which were pushed higher by an investment bank’s suggestion that energy was in the early stages of a bull market.

Crude futures surged after Goldman Sachs suggested the oil markets are in the early stages of a “super spike” period, which could see prices rise as high as US$105 per barrel. Oil prices climbed $1.10 to US$55.10 per barrel in electronic trading.

Hiring gains sent U.S. incomes up by 0.3% in February, but consumer spending climbed at an even faster 0.5% pace, the Commerce Department reported. Further gains in incomes and consumer spending are expected in the months ahead.

Overseas, Japan’s Nikkei stock average added 0.89%. In afternoon trading in Europe, France’s CAC-40 added 0.08%, Britain’s FTSE 100 slid 0.13% and Germany’s DAX index inched up 0.03%.