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TSX over 10,000, back where it was 6 months ago

Last Updated: Wednesday, May 6, 2009 | 5:07 PM ET

CBC News
Three-month track of the TSX composite indexThree-month track of the TSX composite index

A rise of more than 200 points Wednesday pushed the Toronto Stock Exchange composite index over 10,000 for the first time in six months.

The S&P/TSX index closed up 265.71 points at 10,146.43, driven by a big gain in energy issues.

Oil and gas stocks rose as oil prices gained $2.50 US a barrel to $56.34 — a new high for 2009 — in futures trading on the New York Mercantile Exchange.

But the strength was widespread, with more than two issues advancing for every one that fell.

The energy sub-index was up 4.6 per cent, but gold rose 4.4 per cent and mines 3.8 per cent. Financial issues were also strong.

The index last closed over 10,000 on Nov. 4, when it ended at 10,116.

The move through 10,000 was given a big boost Monday, when better-than-expected U.S. data on construction spending and home sales pushed the index up 373 points, the biggest one-day gain this year.

But even at 10,146, the index is still more than 4,200 points below the close a year ago. On May 6, 2008, the index ended the day at 14,414.

Toronto's gain was 2.4 per cent, twice the rise in the Dow Jones industrial index in New York. The Dow added 101.63 points to 8,512.28.

Nasdaq rose 4.98 points to 1,759.10.

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