Climbing commodity prices helped pull the materials-rich Toronto Stock Exchange higher on Wednesday.

The S&P/TSX composite index gained 144.53 points, or 1.6%, to close at 8,969.28.

All of the main groups on the TSX posted gains except for the consumer staples group, which dipped 0.1%.

Energy stocks advanced 3% on Wednesday as oil futures climbed higher. Crude for May delivery rose US$0.23, or 0.5%, to end at US$49.38 a barrel on the New York Mercantile Exchange.

Suncor Energy Inc. gained 4.5% to $30.50 and Petro-Canada shares jumped $1.79, or 5%, to $37.49.

Also higher was Nexen Inc., up 6.2% to $23.49.

Canadian Natural Resources Ltd. saw its shares rise 3% to $53.02.

The financials group gained 1.3%.

Within the group, Sun Life Financial Inc. rose 5.3% to $25.00 and shares of Royal Bank of Canada advanced 1.5% to $37.95.

Lower for the day was ING Canada, down 1.7% to $33.03.

Meanwhile, gold for April delivery rose US$2.60, or 0.3%, to end at US$884.80 an ounce on the Comex division of the New York Mercantile Exchange.

The materials group on the TSX added 1.3% and the sub-gold index remained flat.

Shares of Teck Cominco Ltd. surged 9.8% to $8.75 and First Quantum Minerals Ltd. rose 3.3% to $38.37.

Shares of Potash Corp. gained 3.8% to $102.26.

Lower for the day was Agnico-Eagle Mines Ltd, down $0.73 to $61.46.

The S&P/TSX Venture index slipped 1.78 points, or 0.2%, to close at 950.70.

The loonie edged up US0.03¢ to close at US80.82¢.

In New York, U.S. stocks also moved higher on Wednesday.

The Dow Jones industrial average rose 47.55 points, or 0.61%, to finish at 7,837.11.

The broad S&P 500 index added 9.61 points, or 1.2%, to end at 825.16.

The Nasdaq composite rose 29.05 points, or 1.9%, to 1590.66.

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