Toronto stocks rallied Thursday, rebounding from a fortnight of nearly uninterrupted losses, on the strength of resource plays and financials.

The S&P/TSX composite index shot up 229.09 points, or 2.01%, to 11,653.00. The market had lost roughly 900 points over the last two weeks.

Nine of the 10 TSX main sub-groups were up, with the energy index up 3.41%.

Light, sweet crude for July delivery ended up $1.46 at US$71.32 a barrel.

Petro Canada gained $2.12, or 4.55%, to $48.70.

The materials index finished 2.58% higher. The benchmark June contract for gold rose $11 to US$648.50 an ounce.

Bema Gold Corp. moved up 13¢, or 2.47%, to $5.39.

The financials index advanced 0.95%.

TD Bank announced its quarterly profit rose to $738 million from $599 million a year earlier. Shares fell 83¢, or 1.34%, to $61.00.

National Bank announced that quarterly profit rose to $214 million from a year-earlier $202 million. National Banks shares rose $1.84,or 3.11%, to $60.99.

The Canadian dollar also soared, closing up 1.05¢ to US90.36¢, as investors cheered Wednesday’s decision by the Bank of Canada to hold the line of interest rates.

The S&P/TSX Venture composite index jumped up 71.81 points, or 2.63%, to 2,806.28.

In New York, markets were up as economic news suggesting a slowdown in certain sectors led investors to hope the U.S. Federal Reserve would put a halt to its current cycle of interest rate hikes.

The Dow Jones industrial average moved up 93.73 points, or 0.8%, at 11,211.05. The Nasdaq composite index climbed 29.07 points, or 1.3%, to 2,198.24, while the S&P 500 added 14.31 points, or 1.1%, to end at 1,272.88.