Toronto stocks were up Monday, propelled forward by surging resource stocks, amid news of massive job cuts at General Motors Corp.

The S&P/TSX composite index finished up 95.24, or 0.89%, to 10,817.34.

Volume on the senior exchange was 270 million shares.

General Motors Corp. said it will cut 30,000 jobs – over 3,600 of them in Canada – and close nine North American plants by 2008. Shares of GM fell 47¢, or 1.95%, to $23.58 on the New York Stock Exchange.

Seven of the 10 TSX main sub-groups were up, with the energy sector gaining 1.70% and materials gaining 1.71%.

A barrel of light crude added 49¢ to US$57.70 on the New York Mercantile Exchange.

EnCana Corp. gained $1.02, or 1.98%, to $52.63.

Gold for December delivery closed up $3.30 at $489.50 an ounce. Goldcorp Inc. was up $1.16, or 4.83%, to $25.19.

The telecommunications sector fell 1.09%.

Telus’s unionized workers ratified a new contract, ending a four-month strike. Shares were down 45¢, or 0.98%, to $45.40.

Statistics Canada reported October retail sales fell 0.9%, which was worse than the 0.1% analysts had expected.

The Canadian dollar advanced 0.47 of a cent to US84.5¢.

The junior S&P/TSX Venture composite index finished up 3.12, or 0.15%, 2,031.54.

In New York, markets closed higher despite rising oil prices and GM’s announcement of massive job cuts.

The Dow Jones industrial average rose 53.95, or 0.5%, to 10,820.28, the index’s highest close since March, and putting the index in the black for the year.

The S&P 500 added 6.58, or 0.53%, to 1,254.85, and the Nasdaq composite index gained 14.60, or 0.66%, to 2,241.67. Both totals are four year highs.