Toronto stocks advanced for Thursday, powered by in financial and energy issues. At midday, the S&P/TSX composite index was up 61.25 points, or 0.7%, at 9,469.09.

Volume was 94.4 million shares.

Nine of the TSX index’s 10 main groups were higher, led by 1.7% jump in the energy group and a 0.6% in the financial group.

In the energy group, Imperial Oil, added $1.93, or 2.3%, to $85.83, and Suncor Energy, was up $1.28, or 2.8%, at $47.10.

U.S. crude climbed 45¢ to US$47.70 a barrel on news that OPEC may move to rein in its current overproduction if the cartel decides global oil inventories are growing too fast.

In the heavily weighed financial group, all of the country’s big banks were higher. Royal Bank added $1.12, or 1.5%, to $75.91, and CIBC, was up 69¢, or 0.9%, at $75.44.

In New York, U.S. blue-chip stocks were off slightly at midday, following three days of strong gains, after a report showing weak economic conditions around Philadelphia.

The U.S. Philadelphia Federal Reserve business activity index for May came in at 7.3, sharply below the forecast level of 19. The manufacturing index was also down from an unexpectedly high 25.3 level in April.

The Dow Jones industrial average was down 3.32 points, or 0.03%, at 10,461.13. The S&P 500 index was up 2.36 points, or 0.20%, at 1,187.92. The technology-heavy Nasdaq composite index was up 7.45 points, or 0.37%, at 2,038.10.