The benchmark index of the Toronto Stock Exchange posted a slight gain on Tuesday as Teck Cominco’s $14.1 billion offer for Fording Canadian Coal Trust and a gain by financials offset sliding energy and gold shares.

The S&P/TSX composite index rose 38.59 points, or 0.29%, at 13,342.55. Six of the 10 main TSX sectors advanced.

Fording shares soared $.6.55, or 7.8%, to $90.35 after Teck said it would buy the company in a cash and stock deal. Teck shares were up $2.44, or 6%, to $42.85.

The banking sector climbed 2.9% shrugging off news that U.S. investment bank Merrill Lynch will have to take further writedowns and raise more capital.

CIBC was up $2.87, or 5%, at $60.45, and Toronto-Dominion Bank (gained $2.01, or 3.4%, to $61.54,

The heavyweight energy group fell 2% as a stronger U.S. dollar as well as growing worries over world demand for energy saw crude settle down US$2.54 at US$122.19 a barrel on the New York Mercantile Exchange.

In Toronto, Suncor Energy fell 64¢, or 1.2%, to $53.96, and Canadian Natural Resources dropped $1.44 to $77.30.

The junior S&P/TSX Venture composite index slipped 18.46 points, or 0.84%, to end at 2,168.04.

The Canadian dollar edged down 0.07¢ from Monday’s close to finish at US97.68¢.

In New York, U.S. stocks rebounded on Tuesday on falling oil prices and news of Merrill Lynch’s latest writedowns and share sale.

The Dow Jones industrial average rose 266.48 points, or 2.39%, at 11,397.56. The S&P 500 gained 28.82 points, or 2.33%, at 1,263.19. The tech-heavy Nasdaq composite index rose 55.40 points, or 2.45%, at 2,319.62.

Merrill Lynch jumped nearly 8% after coming into trade on the defensive after the brokerage said late on Monday it will write down US$5.7 billion and raise US$8.5 billion by selling new stock.