Commodity prices swung back into positive territory on Wednesday, helping to pull the benchmark index of the Toronto Stock Exchange higher for the day.

The S&P/TSX composite index rose 68.28 points, or 0.7%, to finish at 9,416.31.

The energy group led with gains of 1.8% as the price of oil advanced. Crude for June delivery rose US$1.05, or 2.1%, to close at US$50.97 a barrel on the New York Mercantile Exchange.

Shares of Talisman Energy Inc. surged 7% after the company reported net income of $455 million for the quarter ended March 31, a 2% decrease from year-earlier profit of $466 million. Its shares moved up $1.00 to $15.35.

Also higher was Nexen Inc., up 1.4% to $23.16 and EnCana Corp., up 1.9% to $55.49.

Gold futures also increased on Wednesday, sending the sub-gold index up 0.4%. Gold for June delivery gained US$6.90, or 0.8%, to end at US$900.05 an ounce on the Comex division of the New York Mercantile Exchange.

The materials group gained 1.4%.

Shares of Inmet Mining Corp. surged 11.6% after the company announced it has resumed mining operations at its Las Cruces copper project in Spain after receiving government approval. Inmet shares gained $4.27 to close at $40.97.

First Quantum Minerals Ltd. jumped 5.9% to $43.26 and Agrium Inc. rose 3.2% to $50.90.

Shares in Barrick Gold Corp. edged up slightly after the gold producer reported a first-quarter profit of US$371 million, down from US$514 million in the same period a year earlier. Barrick shares added $0.05 to $35.65.

Financial stocks gained 0.7% during Wednesday’s trading.

CIBC’s stock rose 2.3% to $54.90 and Manulife Financial Corp. gained 2.1% to $20.11.

Shares of Bank of Nova Scotia advanced 2% on heavy trading volume, to finish at $34.97.

Meanwhile, shares of TMX Group Inc. tumbled more than 10% after the company reported net income of $42.9 million for the first quarter of 2009, falling short of analyst expectations. The company’s shares shed $3.86 to $34.09.

Shares of Eveready Inc., an Edmonton-based energy services company, soared 200% after news that the company signed a $464-million agreement to be acquired by hazardous waste management services firm Clean Harbors Inc. Eveready shares gained $6.93 to end at $10.40.

Rogers Communications Inc. shares fell 1.2% after it announced profits of $309 million in the first quarter of 2009, down from $344 million in the same quarter last year. Rogers’ stock fell $0.35 to $29.24.

Junior companies moved steadily higher throughout Wednesday’s trading session, sending the S&P/TSX Venture index up 20.87 points, or 2.1%, to 1,013.97.

The Canadian dollar surged US1.2¢ to close at US83.13¢.

Stocks in New York also advanced on Wednesday despite data showing that the U.S. economy contracted a steeper-than-expected 6.1% in the first quarter of 2009.

The Dow Jones industrial average rose 168.78 points, or 2.11%, to 8185.73.

The S&P 500 index rose 18.48, or 2.16%, to close at 873.64.

The Nasdaq composite index added 38.13, or 2.28%, to end at 1711.94.

IE