The optimistic and positive commencing that has been recorded by the 2010 trading season managed to continue on Wednesday, as the commodity stocks in the Toronto market gained again from higher prices for oil and metals.

A rise of 56.46 points was recorded by the S&P/TSX composite index, which hit 11,944.54 points, while investors digested mixed economic data which poured in from the US on employment and the service sector.

For the fifth consecutive trading session, the TSX managed to rise, which is an encouraging beginning to the year after the market moved ahead 31% in 2009.

"We don't really see too many negative elements to suggest that the run that we've had is about to end. We do think we should be able to grind higher. It doesn't necessarily have to be a strong torque", said Sid Mokhtari, market technician at CIBC World Markets.

The Canadian Dollar also managed to rise by 0.6 of a US cent to 96.85 cents, which is the highest level hit by the currency since mid-October.