The Toronto Stock Exchange experienced another session of broad-based gains on Thursday, with all 10 main groups ending higher for a second consecutive day.

The S&P/TSX composite index soared 254.92 points, or 2.5%, to close at 10,355.85.

Energy stocks led the gains, surging 4.1% as oil futures advanced. Crude for August delivery rose US$1.56, or 2.3%, to end at US$70.23 a barrel on the New York Mercantile Exchange.

Shares of Canadian Natural Resources Ltd. soared 5.9% to $60.13 and Suncor Energy Inc. jumped 5.5% to $35.17.

Petro-Canada rose 5.2% to $44.41.

Lower for the day was Petrobank Energy and Resources Ltd., after the company announced that it plans to offer $300 million of convertible notes due 2015. The company’s shares fell $1.03, or 2.9%, to $34.64.

Meanwhile, the materials group rose 3.6% and the sub-gold index rose 4.6% as gold futures continued to rise. Gold for August delivery rose US$5.10, or 0.5%, to finish at US$939.50 an ounce on the Comex division of the New York Mercantile Exchange.

Shares of Barrick Gold Corp. rose 4.9% to $40.60 and Goldcorp Inc. gained 4.6% to $42.34.

Kinross Gold Corp. gained 4.6% to $22.11.

Teck Resources Ltd. shares finished lower after it said a technical problem at a mine in Kamloops, B.C. would force the company to scale back copper production for the next year and a half. Teck shares slipped 0.2% to $18.47.

The financials group gained 2.2% during Thursday’s trading.

Bank of Montreal gained 2.1% to $47.76 and Bank of Nova Scotia rose 2.7% to $41.81.

Shares of AGF Management Ltd. surged 11.1% a day after the company announced that second quarter profits fell 61% from a year ago to $17.2 million. AGF shares gained $1.29 to $12.90.

Royal Bank of Canada added $1.01, or 2.2%, to $46.50.

The S&P/TSX Venture composite index also advanced, gaining 12.39 points, or 1.1%, to close at 1,103.05.

The Canadian dollar fell by more than a quarter of a cent against the greenback, to close at US86.49¢.

In New York, U.S. stock markets also finished with healthy gains on Thursday, recovering from early-day losses on data showing that U.S. claims for jobless insurance rose unexpectedly last week, rising by 15,000 to 627,000.

The Dow Jones industrial average surged 172.54 points, or 2.1%, to close at 8,472.40.

The S&P 500 index advanced 19.32 points, or 2.1%, to end at 920.26.

The Nasdaq composite index finished at 1,829.54, up 37.20 points, or 2.1%.

IE