Toronto stocks shot up Friday, as resource issues advanced strongly, despite relatively low volume on the broader market attributable to Remembrance Day observances.

The S&P/TSX composite index finished up 104.14, or 0.99%, to 10,699.40.

Volume on the senior exchange was 195 million shares.

All 10 TSX main sub-groups were up, with the energy sector gaining 1.52% and the materials group up 2.12%

The gain in the energy group came despite a drop in the price of oil. Light sweet crude for December delivery fell 27¢ to settle at US$57.53 a barrel on the New York Mercantile Exchange, its lowest level since July 21.

Ultra Petroleum Corp. gained $2.20, or 4.52%, to $50.90.

Gold for December delivery closed $1.70 higher at US$469.40 an ounce.

Goldcorp was up 35¢, or 1.52%, to $23.45.

Biovail Corp. reported third-quarter earnings of US$101.7 million, more than double from a year ago. Biovail Corp. was up 75¢, or 2.92%, to $6.45.

Alliance Atlantis reported a third-quarter profit of $12.2 million, from $18.9 million a year ago. Shares were up $1.35, or 4.16%, to $33.80.

Dofasco Inc. announced it intends to spin off part of its Quebec Cartier Mining iron ore unit into an income trust. Its shares jumped $5.47, or 14.30%, to $43.72.

Banks and currency and bond traders were off for Remembrance Day.

The junior S&P/TSX Venture composite index finished up 4.90, or 0.24%, to 2,020.50.

In New York, markets were spurred forward by falling energy prices.

The Dow Jones industrial average gained 45.94 points, or 0.43%, to 10,686.04, the S&P500 index was up 3.76, or 0.31%, at 1,234.72, and the Nasdaq composite index climbed 5.79, or 0.26 %, to 2,202.47.

For the week, the Dow advanced 1.47%, the S&P 500 added 1.19% and the Nasdaq was higher by 1.52%.