Toronto stocks rose on Monday as surging oil and metals prices offset losses in technology shares. The S&P/TSX composite index finished up 48.49 points, or 0.4%, at 12,289.70.

The energy and materials groups gained 1.61% and 0.83%, respectively.

Oil prices jumped $1.35 to US$68.74 fuelled by increasing unease over the Iran’s nuclear program and persisting worries over the security of Nigerian supplies.

Canadian Oil Sands Trust picked up $7.50, or 4.4%, to close at $177.50. Paramount Resources Ltd. rose $3.48, or 8%, to $46.73.

Gold prices advanced $9.10 to $601.80 an ounce in New York trading.

Among mining stocks, Teck Cominco Ltd. gained the most of any miner, finishing at $85.89, up $3.84 or 4.7%. Inmet Mining Corp. moved up $1.80, to finish at $41.18.

The information technology group lost 1.15%.

Research In Motion Ltd. gave up $1.70, or 1.9%, to close at $89.60. Last week RIM forecast weaker-than-expected growth in its first quarter.

The junior S&P/TSX Venture composite index gained 9.93 points, or 0.33%, to close at 3,047.30.

The commodity strength gave an early boost to the Canadian dollar, but it later fell back and closed at US87.03¢, down 0.03 of a cent.

On Wall Street, U.S. blue chips rose as shares of Dow component Boeing Co. touched an all-time high on hopes for more plane orders, but rising oil prices weighed on the broad market because they could raise companies’ costs and slow profit growth.

The Dow Jones industrial average finished up 21.29 points, or 0.19%, at 11,141.33. The S&P 500 was up 1.12 point, or 0.09%, at 1,296.62. The Nasdaq composite index was down 5.75 points, or 0.25%, at 2,333.27.