The Toronto Stock Exchange’s main index closed at its highest level in more than five months on Wednesday, buoyed by rising resources.

The S&P/TSX composite index jumped 248.53 points, or 1.79%, to 14,099.48. It was the TSX’s highest close since early November.

Eight of the 10 TSX main sectors in upward momentum.

Overall, the materials group pushed up 4%, while its gold producer subindex rose 3.5%.

Potash Corp of Saskatchewan and Agrium climbed after Chinese importers agreed to pay more than triple what they did a year ago to reserve potash supplies.

Potash Corp jumped $10.35, or 5.5%, to $198.50, while Agrium climbed $6.20, or 7.7%, to $86.70.

Gold producers rallied as bullion prices climbed amid the U.S. dollar’s descent. Gold for June delivery rose US$16.30 to end at US$948.30 an ounce on the New York Mercantile Exchange.

Barrick Gold gained $1.72, or 3.9%, to $46.12, and Kinross Gold added $1.30, or 5.4%, to $25.48.

The heavyweight energy sector added 1.6%, lifted by continuing highs in oil prices. Crude settled up US$1.14 at US$114.93 a barrel on the Nymex after earlier pushing through US$115.

Imperial Oil rose $2.27, or 4%, to $59.06, and Suncor Energy added $2.26, or 2%, to $114.38.

The junior S&P/TSX Venture composite index added 27.18 points, or 1.07%, to 2,574.55.

The Canadian dollar gained 1.73¢ to close at US99.86¢on Wednesday amid rising commodity prices and weakness in the U.S. greenback.

In New York, U.S. stocks surged ahead after Intel, J.P. Morgan Chase and other blue chips reported earnings that reassured investors worried that a weak economy would sap corporate profits.

The Dow Jones industrial average jumped 256.80 points, or 2.08%, to close at 12,619.27, while the S&P 500 rose 30.28 points, or 2.27%, to 1,364.71. The Nasdaq composite index powered ahead 64.07 points, or 2.80%, to close at 2,350.11.

The three major U.S. stock indexes had their best day since April 1.