Continued strength in commodities helped to pull the benchmark index of the Toronto Stock Exchange higher on Thursday.

The S&P/TSX composite index rose 167.89 points, or 1.9%, to close at 8,860.98.

Materials companies led the way, advancing 4.2% as gold futures finished higher. Gold for February delivery rose US$12.00, or 1.3%, to end at US$913.60 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index increased 2.8%.

Kinross Gold Corp. shares climbed 3.5% to close at $22.24 and Barrick Gold Corp. rose 4.2% to $47.65.

Shares of Potash Corp. jumped a sharp $8.45, or 8.7%, to finish at $106.10 and Agrium Inc. shares increased 5.4% to $44.88.

First Quantum Minerals Ltd. saw its stock soar 9.9% to $28.40.

Teck Cominco Ltd.’s B-class shares also gained ground, rising 6.4% to $5.00.

Crude oil for March delivery finished a volatile trading session with gains of US$0.85 to end at US$41.17 a barrel on the New York Mercantile Exchange.

This helped energy stocks get a boost of 1.9% in Thursday’s trading.

Shares of Canadian Natural Resources Ltd. surged 5.2% to $44.81 and Petro-Canada shares climbed a hefty 5% to $29.33.

Talisman Energy Inc. shares closed at $12.85, higher by 3.3%, and EnCana Corp. finished up 2.8% at $55.70.

The financials group rebounded from Wednesday’s decline, rising 1.8% on Thursday.

Shares of CIBC rose $1.45, or 3.2%, to $46.89 and Bank of Nova Scotia shares gained 2.6% to $30.49.

Sun Life Financial Inc.’s stock increased 3.3% to $25.40.

Power Corp. of Canada advanced $0.65, or 3.2%, to $20.90.

Shares of Research In Motion finished the day at $69.94, up 1.2%, after a panel of the Ontario Securities Commission approved a settlement agreement with the company’s top executives concerning the company’s stock options.

Bombardier Inc.’s widely-traded B-class shares slipped 4.6% to $3.55 after the company said it is cutting 1,360 jobs, or about 4.5% of its workforce, because of sagging demand for certain business jets.

The S&P/TSX Venture composite index edged higher by 8.17 points, or 0.9%, to close at 898.22.

The loonie remained nearly flat on Thursday, ending the day at US81.23¢, up US0.06¢.

In New York, U.S. stock markets experienced similar strength on Thursday, as investors absorbed some better-than-expected news from the retail sector.

The Dow Jones industrial average rose 106.41 points, or 1.34%, to 8,063.07.

The S&P 500 index gained 13.62, or 1.64%, to 845.85.

The Nasdaq composite advanced 31.19, or 2.06%, to 1546.24.

Wal-Mart Stores, Inc. saw its stock rise 4.6% to US$48.56 on the New York Stock Exchange after reporting that total sales were up 1.8% to US$27.7 billion in January.

IE