Toronto stocks set another all-time record Monday, powered by higher resource prices, while U.S. markets were closed for the Martin Luther King holiday.

The S&P/TSX composite index gained 116.15, or 1.00%, to 11,720.97. The close was just the most recent all-time high of the year. On the first trading day of 2006, the exchange broke through the old record of 11,388 from Sept. 1, 2000.

Volume on the senior exchange was 244 million shares.

Nine of the 10 TSX main sub-groups were up. The energy sector gained 2.19%.

The price of oil rose as instability worries in Nigeria and Iran boosted prices. Brent crude for February delivery gained 77¢ to US$63.03 a barrel on London’s ICE Futures exchange. The New York Mercantile Exchange was closed.

EnCana Corp. rose 2.16, or 4.07%, to $55.29.

Connacher Oil and Gas gained 59¢, or 15.32%, to $4.44.

The price of gold in London advanced $5.60 to US$561.70 US an ounce.

Placer Dome Inc. gained 51¢, or 1.81%, to $28.66.

Dofasco Inc. shares gained $6.60, or 10.03%, to $72.40 after Arcelor SA boosted its bid for the company to $5.5 billion, or $71 a share, topping a bid of $5.28 billion, or $68 a share, by ThyssenKrupp.

The Canadian dollar closed up 0.15 of a cent at US86.33¢.

The junior S&P/TSX venture composite index finished up 24.87, or 1.05%, to 2,394.54.