Toronto stocks rallied strongly on Thursday after a getting a boost from energy and resource issues.

The S&P/TSX composite index closed up 112.53 points, or 0.79%, at 14,332.03, finishing up for the second straight day.

Overall, seven of the TSX’s 10 main groups ended higher.

The energy sector powered ahead 1.4% as U.S. crude jumped $2,07, or 2.4%, to settle at US$89.47 a barrel on a weak U.S. dollar and worries over political turmoil in northern Iraq.

Husky Energy rose 50¢, or 1.2%, to $43.78. Petro Canada was up 50¢, or 0.9%, at $53.65.

The resource-laden materials sector gained 1.8%.

Gold producers were among the biggest gainers by weight with Kinross Gold up 79¢, or 5%, at $16.65, while Centerra Gold gained 85¢, or 7.6%, to $12.10.

The financial sector was down 0.26% on worries about Canadian banks’ exposure to bad credit.

The junior S&P/TSX Venture composite index was up 37.42 points to 3,047.31.

The Canadian dollar gained 0.2 of a cent to close at US102.7¢.

In New York, the Dow Jones industrials slipped 3.58 points to 13,888.96. The tech-heavy Nasdaq composite index gained 6.64 points to 2,799.31.

The S&P 500 index was off 1.16 points to 1,540.08.