Surging Miners Carry TSX Higher -- Canadian Commentary

(RTTNews) - Mining stocks accelerated higher Thursday on rebounding commodities prices, helping Toronto's main index to a second straight winning session.

Base metal miners continued to fight back from substantial losses to start the year.

The Diversified Metals and Mining Index skyrocketed higher by 13 percent, the best daily performance in recent memory.

Gold stocks also advanced, as gold prices jumped to their highest since late October.

Financials, energy and health care stocks also nudged higher.

The S&P/TSX Composite Index of Canada's big companies rose 181.48 points, or 1.44 percent, to 1.44 percent.

In corporate news, Suncor (SU.TO) reported a fourth quarter operating loss was $26 million, or 2 cents a share, versus operating earnings of $386 million, or 27 cents a share.

Plunging oil prices also caused the company to cut its capital expenditures this year.

Suncor shares rose 0.85 percent.

BCE (BCE.TO) said its dividend will increase 5.0 percent, or 13 cents per share, from $2.60 to $2.73. Earnings were flat in the fourth quarter. Shares rose 1.4 percent.

WestJet Airline Ltd. (WJA.TO) said traffic was up 7.8 percent and load capacity was up 7 percent. Shares were down 1.7 percent.