The Toronto Stock Exchange bounced back on Thursday, following hefty losses during Wednesday’s trading, as commodities prices rallied.

The S&P/TSX composite index surged 187.12 points, or 1.8%, to close at 10,477.24.

The heavyweight energy group jumped 2.8% as oil futures rose by almost 5%. Crude for July delivery rose US$3.03, or 4.6%, to US$69.15 a barrel on the New York Mercantile exchange.

Shares of Suncor Energy Inc. soared 4.9% to $37.50 and Petro-Canada surged 4.8% to $47.15.

Also higher was Talisman Energy Inc., up 3.2% to $17.22.

Nexen Inc.’s stock rose a sharp $1.11, or 4.2%, to close at $27.70.

The materials group also advanced sharply, gaining 2.8% as gold futures finished higher. Gold for June delivery rose US$16.70, or 1.7%, to US$981.20 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index on the TSX gained 2.5%.

Shares of Barrick Gold Corp. advanced 2.7% to $41.30 and Goldcorp Inc. was up 2.7% to $41.39.

Shares of Teck Resources Ltd. surged $1.40, or 8%, to $19.00 and Agnico-Eagle Mines Ltd. closed at $66.33, up 3%.

Also higher was Inmet Mining Corp., up $2.60, or 5.8%, to $47.15.

Financial stocks gained 1.9% on Thursday.

Royal Bank of Canada rose 1.9% to $44.84 and Bank of Nova Scotia gained 2.7% to $39.76.

Other gainers included Manulife Financial Corp., up 2.7% to $23.85, and Bank of Montreal, higher by 2.5% to $45.21.

Shares of Canadian Western Bank added 1% after the company reported second-quarter profit of $21.6 million; that’s down by 15% from the same period last year. The bank’s shares rose 15¢ to $14.69.

Junior companies on the TSX Venture Exchange also advanced on Thursday, sending the benchmark index up 25.2 points, or 2.3%, to 1,133.16.

The Canadian dollar rose by almost a cent on Thursday to close at US91.17¢.

U.S. equities also registered gains on Thursday after news that U.S. jobless claims fell by 4,000 to 621,000 in the week ended May 30, indicating that the worst of the employment slump may have passed.

The Dow Jones industrial average added 74.96 points, or 0.9%, to close at 8,750.24.

The S&P 500 index 10.7 points, or 1.2%, to end at 942.46.

The Nasdaq composite index rose 24.1 points, or 1.3%, to 1,850.02.

IE