Toronto stocks closed higher Wednesday, with a rebound in resource stocks, and despite a drop in the financials index.

The S&P/TSX composite index gained 39.11, or 0.33%, to 11,744.52.

Seven of the 10 TSX main sub-groups were up on the session.

The energy index gained 1.60%, despite a drop in the price of oil. Crude futures ended down 74¢ at US$71.29 a barrel.

EnCana Corp. gained $1.47, or 2.72%, to $55.56.

The materials index gained 0.78%.

The benchmark gold futures contract fell $11.50 to US$649 an ounce.

Bema Gold Corp. gained 34¢, or 5.93%, to $6.07.

The financials sector was off 0.95%, with Royal Bank of Canada losing 80¢, or 1.75%, to $45.00.

The S&P/TSX Venture Exchange index moved up 8.90 points, or 0.31%, to 2,835.10.

In New York, markets were up despite worries over inflation, interest rates and a possible slowdown in the economy.

The Dow Jones industrial average rose 73.88 points to 11,168.31. The Nasdaq composite rose 14.14 points to 2,178.88. The S&P 500 Index gained 10.25 points to 1,270.09.