Toronto stocks closed up sharply Monday gaining a lift from rising technology and energy issues. The S&P/TSX composite index has soared 144.80 points, or 1.7%, to 8,513.42.

All of the TSX index’s groups advanced, led by a 2.5% climb in energy stocks. The heavily weighted financial group was up 2.4%, and the technology group rose 1.6%.

Energy stocks rose on the back of rising oil prices, as Hurricane Ivan approached the Gulf of Mexico and threatened to disrupt oil facilities where a quarter of U.S. oil and gas is produced. A barrel of light crude settled at US$43.87, up US$1.06, on the New York Mercantile Exchange.

Energy stocks trading higher included EnCana, up $1.61 to $55.07, and Petro-Canada, $1.70 higher at $63.25.

Among technology issues Nortel Networks gained 13¢, or 2.5%, to $5.24 and ATI Technologies rose 26¢, or 1.3 %, to $20.17.

In the financial services group, Sun Life Financial moved up 90¢ to $37.40 and Royal Bank was 99¢ higher at $60.49.

Shares in Rogers Communications Inc. closed up $1.56, or 6.6%, at $25.10, after the company said Monday it will pay $1.77 billion cash to buy the 34% stake in Rogers Wireless owned by long-time American partner, AT&T Wireless Services Inc.. Rogers Communications said it will buy 48.6 million shares from AT&T Wireless, through its fully owned subsidiary JVII, for $36.37 each. That’s 17% higher than Rogers’s May offer of $31 a share.

The junior S&P/TSX Venture composite index fell 7.17 points to close at 1,513.65.

On Wall Street, gains in technology sector sent stocks modestly higher Monday despite a new revenue warning from semiconductor company Broadcom.

Investors were also encouraged by a new report by J.P. Morgan Securities, which said disappointing earnings would not be a factor in the year’s overall results. The brokerage also raised its year-end target on the S&P 500 index to 1,200 from 1,150.

The Dow Jones industrial average gained 1.69 points to 10,314.76. S&P 500 index was up 1.89 points at 1,125.81, and the Nasdaq composite index rose 16.07, or 0.8%, to 1,910.38.

Another rise in oil prices due to concerns over Hurricane Ivan’s effect on oil exploration in the Gulf of Mexico did not have a large impact on trading. A barrel of light crude settled at US$43.87, up US$1.06, on the New York Mercantile Exchange.

Shares of US Airways Group Inc. plunged US44¢, or 30% to $1.02 after it filed for bankruptcy protection, a move that was widely expected