Toronto stocks hit a five-year high Tuesday, powered ahead by gains in resource issues and seemingly unaffected by the Bank of Canada’s decision to raise its key rate.

The S&P/TSX composite index finished up 88.04, or 0.80%, to 11,096.82.

Volume on the senior exchange was 314 million shares.

The central bank raised its key overnight rate 0.25% to 3.25% and suggested more rate increases were coming.

The Canadian dollar gained 0.01 of a cent to close at US86.42¢, besting yesterday’s close which had set a 14-year-high.

Eight of the 10 TSX main sub-groups were up, with the energy sector up 1.20%

The crude futures contract closed up 3¢ at US$59.94 a barrel, after dipping to an intra-day trading low of US$59.55.

EnCana Corp. added 51¢, or 0.91%, to $56.25 on trading volume of nearly three-million shares.

Gold futures settled up $1.20 to close at US$510.20 an ounce, a new 18-year high.

Bema Gold Corp. gained 7¢, or 2.09%, to $3.42.

The financials sector gained 0.37%.

Scotiabank reported late Monday it will invest $390 million in Peru as part of a plan to merge two Peruvian banks. Scotia shares lifted 62¢, or 1.36%, to $46.15.

The S&P/TSX Venture Exchange index finished up 4.46 points, or 0.21%, to 2,093.27.

In New York, a boost in U.S. productivity numbers fuelled markets in the morning, but those gains were largely clawed back in the afternoon.

The Dow Jones industrial average closed up 21.85 points , or 0.2%, to 10,856.86 after being up 101 points in earlier trading, The S&P500 index added 1.61, or 0.13%, to 1,263.70, and the Nasdaq composite index rose 3.12 points , or 0.14%, to 2,260.76.