Toronto stocks moved higher Wednesday, spurred forward by resource stocks and financials, and added to big gains posted in the previous session.

The S&P/TSX composite index gained 112.42, or 0.94%, to 12,989.61. The market has gained 278.36 in the past two sessions, after posting five consecutive sessions of losses.

Eight of the 10 TSX main sub-groups ended higher.

The materials index gained 1.60%, and the gold sub-index was up 2.02%.

Gold gained $6.70 to $652.90 an ounce.

Kinross Gold Corp. gained 0.85% to $15.38.

The energy index gained 1.52%.

Light, sweet crude for April delivery gained $1.13, or 1.9%, to US$61.82 a barrel.

Canadian Oil Sands Trust units moved up $1.25, or 4.80%, to $27.30.

Financials gained 0.67%. CIBC moved up $1.05, or 1.04%, to $101.89.

The Canadian dollar dipped US0.15¢ to US84.85¢.

The S&P TSX Venture Exchange gained 34.70, or 1.13%, to 3,109.97.

In New York, markets moved modestly lower, after putting in a strongly positive session yesterday, as investors remained concerned over the sub-prime mortgage lending market.

The Dow Jones industrial average lost 15.14, or 0.12%, to 12,192.45, the Nasdaq composite index fell 3.44, or 0.25%, to 1,391.97, the S&P500 dipped 10.50, or 0.44%, to 2,374.64.