Toronto stocks rose modestly Monday, as big gains in resource stocks were offset somewhat by downward pressure from financials.

The S&P/TSX composite index moved ahead 30.39, or 0.25%, to 12,234.56.

Six of the 10 TSX main sub-groups were down.

The materials sector moved up 1.16%. Gold for June delivery closed up $5.70 at US$660.20 an ounce, its highest futures close since late 1980.

Goldcorp Inc. gained 86¢, or 2.19%, to $40.11.

The energy index was up 1.21%. The benchmark June contract rose $1.82 at US$73.70 a barrel.

Husky Energy Inc. gained $2.28, or 3.47%, to $68.08.

The financials sector fell 0.74%. Manulife Financial Inc. lost $1.40, or 1.92%, to $71.60.

In economic news, Statistics Canada reported that the producer price index gained 0.8% in March from February.

The Canadian dollar continued on its upward rise, as it increased 0.38 of a cent to US89.83¢.

The S&P/TSX Venture Exchange index rose 26.92, or 0.87%, to 3,129.99.

In New York, comments from U.S. Federal Reserve chairman Ben Bernanke indicated the Fed might not be at the end of its cycle of interest rate hikes.

The Dow Jones Industrial Average fell 23.85 points to 11,343.29, the Nasdaq Composite index fell 17.78 points to 2,304.79 while the S&P 500 Index dropped 5.42 points to 1,305.19.