A second day of strong gains among energy stocks sent the benchmark index of the Toronto Stock Exchange sharply higher on Thursday.

The S&P/TSX composite index rose 130.35 points, or 1.4%, to close at 9,409.5.

Crude for June delivery gained 77¢, or 1.6%, to US$49.62 a barrel on the New York Mercantile Exchange. This boosted the energy group on the TSX higher by 2.1% during Thursday’s trading.

Shares of Suncor Energy Inc. gained 2.9% after the company reported a first quarter net loss of $189 million on lower oil prices and various accounting and foreign exchange impacts. Suncor shares finished at $30.33, up $0.86.

Shares of Canadian Natural Resources Ltd. surged $2.21, or 3.9%, to $58.80 and Talisman Energy Inc. gained 2.4% to $14.82.

Also higher was Nexen Inc., up 3.5% to $23.28.

Materials stocks also got a boost Thursday, rising 1.4% as gold futures advanced. Gold for June delivery gained US$14.10, or 1.6%, to US$906.60 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index rose 2.4%.

Shares of Yamana Gold Inc. jumped 4.8% to $9.80 and Kinross Gold Corp. gained 4.8% to $18.74.

Barrick Gold Corp. advanced 2.7% to $35.99 and Goldcorp Inc. added $1.01, or 3%, to $34.63.

Shares of Potash Corp. slid 2.9% after the company reported net income of US$308.3 million for the quarter ended March 31, down from year-earlier profit of US$566 million. Potash shares closed at $97.49, down $2.91.

Financial stocks rose 1.6% on Thursday.

Shares of Toronto-Dominion Bank gained 2.1% to $48.59 and CIBC rose $1.50, or 2.9%, to end at $53.50.

Bank of Montreal added 2.1% to $39.68 and Bank of Nova finished at $34.57, up 2.5%.

The S&P/TSX Venture composite index finished at 987.94, up 8.82 points, or 0.9%.

The Canadian dollar jumped more than a cent to close at US81.71¢.

American stock markets also finished with gains on Thursday despite the release of dismal economic news. New data showed that last week’s unemployment claims rose more than expected, and U.S. home sales dropped a steeper-than-expected 3%.

The Dow Jones industrial average rose 70.49 points, or 0.9%, to end at 7,957.06.

The S&P 500 index added 8.37 points, or 1%, to 851.92.

The Nasdaq composite index gained 6.09 points, or 0.4%, to 1,652.21.

IE