Toronto stocks closed slightly higher on Wednesday despite continued losses in the energy sector.

The S&P/TSX composite index moved up 7.88 points, or 0.06%, to 12,068.36.

Seven of the 10 TSX main sub-groups were up, with the telecommunications services sector rising 1.15% and information technology increasing 0.72%.

In telecommunications services, Telus Corp. rose $1.13, or 2.10%, to close at $54.89.

In information technology, Cognos Inc. rose 89¢, or 2.57%, to close at $35.56.

The energy sector fell 0.55%. Light, sweet crude for October delivery gained US32¢ to close at US$70.03 a barrel.

The October futures contract for gold closed up US$7.00 to US$626.10 an ounce.

The Canadian dollar fell 0.08¢ to close at US90.18¢.

The S&P/TSX Venture Exchange index increased 4.74 to close at 2,680.53.

In New York, markets continued their upward trend on news that GDP growth in the spring was higher than earlier anticipated.

The Dow Jones Industrial Average closed up 12.97, or 0.11%, at 11,382.91. The Nasdaq Composite Index rose 13.43 points, or 0.62%, to reach 2,185.73, and the S&P 500 Index lost a scanty 0.01 points to close at 1,304.27.