The benchmark index of the Toronto Stock Exchange surged past the 10,000 mark on Wednesday, led by a surge in energy stocks as oil futures hit a six-month high.

The S&P/TSX composite index jumped 262.71 points, or 2.7%, to close at 10,143.43, its highest closing level since late October of last year.

Crude for June delivery gained US$2.50, or 4.6%, to end at US$56.34 a barrel on the New York Mercantile Exchange, the highest closing level for a front-month contract since mid-November.

The surge in oil prices sent the energy group on the TSX up 4.8%.

Shares of Suncor Energy Inc. soared $2.36, or 7.2%, to $35.19 and Petro-Canada advanced a sharp 8.3% to $43.54.

Nexen Inc. added $1.40, or 5.9%, to finish at $25.30.

Units of the Canadian Oil Sands Trust jumped $2.15, or 8.2%, to close at $28.50.

Materials stocks also advanced on Wednesday, adding 2.9% as gold futures made gains. Gold for June delivery climbed US$6.70, or 0.7%, to US$911.00 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index jumped 4.5%.

Gainers included Goldcorp Inc., up 4.9% to $35.47, and Barrick Gold Corp., up 3.4% to $38.45.

Shares of First Quantum Minerals Ltd. surged $4.80, or 9.8%, to end at $53.70.

Financial stocks also finished the day with gains, closing up 3.1%.

Manulife Financial Corp.’s stock surged $1.17, or 5.4%, to $22.74.

Royal Bank of Canada’s shares added $1.37, or 3.1%, to $45.

Also higher was Power Corp., up 4.5% to $25.34, and Bank of Montreal, higher by 3.5% to $44.26.

Biovail Corp. saw its stock tumble 13.1% after the drugmaker cut its dividend and reported first-quarter net income of $39 million, down from $56.4 million in the first quarter of last year. Biovail shares fell $1.75 to $11.65.

The TSX Venture composite index gained 17.5 points, or 1.7%, to end at 1,047.86.

Meanwhile, the loonie added three quarters of a cent to close at US85.78¢.

U.S. stock markets also advanced on Wednesday after news that private employers in the U.S. cut roughly 491,000 jobs in April, fewer than economists had predicted.

The Dow Jones industrial average gained 101.63 points, or 1.2%, to close at 8,512.28.

The S&P 500 index added 15.73, or 1.7%, to end at 919.53.

The Nasdaq composite index edged up 4.98 points, or 0.3%, to 1,759.10.