The Toronto stock market shook off some of yesterday’s losses on Tuesday, getting a lift from strong commodity prices.

The S&P/TSX composite index jumped 111.53 points, or 0.84%, to close at 13,459.77.

Only three of the 10 TSX main sectors closed in positive territory, energy and materials shares provided the bulk of the support as gold and oil prices also moved higher.

The energy the sector rose 1.9% as crude oil jumped above US$98 a barrel bolstered by record weakness in the U.S. dollar and concerns over tight supply heading into winter.

Light, sweet crude for January delivery climbed $3.39 to settle at US$98.03 a barrel on the New York Mercantile Exchange.

Suncor Energy rose up $3.09, or 3.1%, to $103.00.

The materials group, home to resource shares, led the way up, gaining 3.8%, while the price of gold rallied to US$793.90 an ounce. Barrick Gold gained $3.26, or 8.5%, to $41.53.

On the downside, the financials group lost 1.2% after U.S. mortgage finance provider Freddie Mac posted a record quarterly loss.

CIBC was down $2.50, or 2.9%, at $83.80, and National Bank of Canada gave up 34¢, or 0.7%, to $51.46.

The health-care sector gave up 3.8% as Biovail shed more than 11% after the U.S. Food and Drug Administration dashed hopes for a quick approval of a new version of its bupropion anti-depressant treatment. Biovail finished down $1.85 at $14.30.

Quebecor World Inc. slid 16¢, or 5.5%, to $2.74 after it said it was withdrawing a refinancing plan announced last week.

The junior S&P/TSX Venture composite index added 16.08 points, or 0.56%, to finish at 2,870.91.

The Canadian dollar finished up 0.42 cent at US$1.0197 even as fresh inflation data gave the central bank more leeway to ease interest rates.

In New York, U.S. stocks rebounded from Monday’s sharp losses as surging oil prices lifted Exxon Mobil and offset falls in financial shares on new concerns about the housing market.

The Dow Jones industrial average was up 51.70 points, or 0.40%, at 13,010.14. The S&P 500 was up 6.43 points, or 0.45%, at 1,439.70. The Nasdaq composite index was up 3.43 points, or 0.13%, at 2,596.81.