Toronto stocks surged ahead Wednesday, posting a new record high, as the resource sectors and the information technology group led the key index to the third-straight positive session of the week.

The S&P/TSX composite index gained 87.08 points, or 0.65%, to 13,448.31, surpassing the 13,404.46 mark set Feb. 26.

The benchmark index has gained 282.81 points this week.

Eight of the 10 TSX main sub-groups were up.

The materials index gained 1.42%, while the gold sub-sector gained 1.55%.

Gold futures rose $7.70 to close at US$677.40 an ounce,

Eldorado Gold Corp. gained 19¢, or 2.73%, to $7.14.

The energy index gained 1.04%. Light, sweet crude fell 26¢ at US$64.38 a barrel.

Nexen Inc. gained 1.85, or 2.63%, to $72.13.

Information technology group rose 0.93%.

Nortel Networks gained 35¢, or 1.25%, to $28.38.

The Canadian dollar was up 0.03 of a cent to US86.27¢.

The S&P/TSX Venture composite index gained 26.50 points, or 0.82%, to 3.240.97.

In New York, markets moved modestly higher on easing in the price of crude. But bulls were kept in check by negative economic news.

The Dow Jones industrial average gained 19.75, or 0.16%, to 12,530.05, the Nasdaq composite index moved up 8.36, or 0.34%, to 2,458.69, and the S&P500 edged ahead 1.60, or 0.11%, to 1,439.37.