Toronto stocks posted solid gains on Thursday as energy and materials issues advanced.

The S&P/TSX composite index closed up 110.25 points, or 1.28%, at 8,753.77. It was its fifth straight day of gains.

Six of the 10 TSX main groups closed higher.

Oil fell as much as 3.3% to US$52.62 a barrel on the New York Mercantile Exchange in electronic trading, but the TSX energy group still put in a strong 3.4% gain on the strength of takeover rumours at Nexen Inc. The oil sand’s producer was up 16.7% at $26.01.

Miners also had a strong day, gold firmed on a weaker U.S. dollar.

The TSX materials group gained 3.4%.

Potash Corp of Saskatchewan gained 4.5% to $79.69.

The junior S&P/TSX Venture composite index climbed 16.84 points, or 2.3%, to 748.23.

The Canadian dollar slipped 0.06 of a cent to finish at US81.23¢.

In New York, U.S. markets were closed for the American Thanksgiving holiday.

IE