North American markets traded Wednesday’s losses for a strong rally Thursday, with Toronto stocks getting a boost from energy and financial shares.

The S&P/TSX composite index closed up 250.21 points, or 2.5%, at 10,392.37.

Toronto-Dominion Bank surged 6.7% to $53.69 after the bank released better-than-expected second-quarter results.

CIBC shares fell 4.5% to $54.47 after it reported a loss for the quarter.

Bank of Nova Scotia rose 0.4% to $37.90. National Bank of Canada was up 3.6% at $51.30.

Energy stocks climbed 3.6% after the price of crude oil rose to a six-month high above US$65 a barrel.

Canadian Natural Resources rose 4.5% to $64.52, while Petro-Canada climbed 4.8% to $48.49.

The junior S&P/TSX Venture composite index rose 12.17 points, or 1.1%, to finish at 1,105.16.

The Canadian dollar advanced 0.37¢ to close at 89.70¢

In New York, the Dow Jones industrial average closed up 103.78 points, or 1.3% at 8403.80. The broader S&P 500 closed up 13.77 points, or 1.5%. at 906.83. The Nasdaq composite index gained 20.71 points, or 1.2%, to end at 1,751.79.

IE