Following two days of declines, the Toronto Stock Exchange enjoyed broad-based gains on Thursday as commodity prices rallied.

The S&P/TSX composite index surged 221.39 points, or 2.1%, to close at 10,676.72. All 10 main groups finished the day with gains.

The materials group led the way with a 3.3% boost on Thursday, as gold futures advanced. Gold for August delivery rose US$7.70, or 0.8%, to end at US$934.90 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index gained 2.3%.

Shares of Agnico-Eagle Mines Ltd. soared 7.4% after the company reported stronger-than-expected second-quarter results, with a net profit of $1.2 million. The company’s stock gained $4.23 to close at $61.08.

Barrick Gold Corp. saw its shares rise 3% after reporting that second quarter net income climbed 1.4% to $492 million in the second quarter, thanks to higher output and stronger gold prices. Barrick shares gained $1.07 to close at $36.82.

Shares of Teck Resources Ltd. surged 7.6% to $27.25 and First Quantum Minerals Ltd. jumped 9.4% to $69.85.

Also higher was Goldcorp Inc., up 2.3% to $39.44.

The heavyweight energy group gained 2.4% as oil futures soared higher. Crude for September delivery gained US$3.57, or 5.6%, to end at US$66.92 a barrel on the New York Mercantile Exchange.

Shares of Suncor Energy Inc. jumped $1.48, or 4.4%, to $34.80 and Canadian Natural Resources Ltd. rose 3.6% to $63.95.

Petro-Canada’s stock soared 4.4% despite news that weaker oil prices hampered its second-quarter profits, which dropped to $77 million from $1.5 billion a year ago. Petro-Canada shares added $1.89 to end at $44.60.

Weaker energy prices had a similar impact on earnings at Imperial Oil Ltd., which reported that net income tumbled 82% to $209 million in the second quarter. Imperial Oil’s stock slipped 31 cents to close at $42.25.

Financial stocks gained 1.6% on Thursday.

Manulife Financial Corp. gained 3.2% to $26.29 and Intact Financial Corp. rose 3% to $35.58.

Shares of IGM Financial Inc. surged 7.7% after the company reported late on Wednesday that second-quarter net income was $144.5 million, down from $216.1 million last year. IGM’s stock added $3.19 to close at $44.39.

Shares of TMX Group Inc. rallied 2% to close at $34.22 after posting a hefty drop during Wednesday’s trading.

Also higher was Bank of Nova Scotia, up 1.8% to $45.80.

Shares of Canadian Pacific Railway Ltd. surged more than 12% on Thursday after it announced second-quarter net income of $157 million, up 2% from $155 million in the same period a year earlier. CP shares added $5.30 to close at $48.61.

After two days of declines, the Canadian dollar finished higher on Thursday. The loonie added more than half a cent to close at US92.23¢.

The junior S&P/TSX Venture composite index gained 15.30 points, of 1.35%, to finish at 1,147.04.

In New York, U.S. stocks also finished with healthy gains on Thursday after several quarterly earnings reports beat analyst expectations.

The Dow Jones industrial average advanced by 83.74 points, or 1%, to end at 9,154.46, its highest close since early November.

The S&P 500 index finished up 11.60 points, or 1.2%, at 986.75, also its highest level since early November.

The Nasdaq composite index finished at 1,984.30, up 16.54 points, or 0.8%. Earlier on Thursday, the technology-heavy index topped the 2,000-mark for the first time since October.

IE