TORONTO - Canada's main stock index rallied to a 14-week high on Wednesday, propelled by energy and financial stocks, as well as a surge in Air Canada shares after investors cheered the airliner's outlook.

BlackBerry Ltd (BB.TO) stock also leaped, adding 8.6 per cent to finish at $12.15 after the company and auto supplier Delphi Automotive Plc announced they were partnering on a software system for self-driving cars. The overall technology group eked out a 0.1 per cent gain.

Energy stocks jumped 2.5 per cent as the sector profited from higher oil prices after Iraq's oil minister suggested more output cuts were possible. Oil prices were on course for their largest third-quarter gain in 13 years, with the U.S. crude settling at US$50.41 a barrel, up 1.9 per cent.

Canadian Natural Resources (CNQ.TO) rose 2.4 per cent to $41.44, while Encana Corp (ECA.TO) advanced 4.5 per cent to $13.69.

Financial services stocks, which make up an outsized third of the index's weight, gained 0.7 per cent, though individual bank stocks were mostly under 1 per cent.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) touched its highest level since June 12, ending up 96.63 points, or 0.63 per cent, to 15,389.60 with materials the index's only major group to lose ground.

The index has recouped its summer losses, rebounding 2.7 per cent since its trough 1-1/2 weeks ago.

"People have come to the conclusion that the Bank of Canada is not raising rates in October and that's probably also giving the TSX a little bit of a boost," said Sadiq Adatia, chief investment officer, at Sun Life Global Investments.

"I do think TSX will give back as the effects of the couple of interest rates that we've had this year start to get into the system."

Air Canada stocks (AC.TO) soared 10.8 per cent to $25.84 after several analysts raised their target prices and ratings on the airline following its update of its 2018 to 2020 financial goals. The broader industrials group rose 1.3 per cent.

The materials group lost 0.6 per cent, with gold miners the index's biggest drags. Barrick Gold Corp (ABX.TO) was down 2 per cent at $20.31, while Kinross Gold Corp (K.TO) gave up 3.6 per cent to end at $5.35.

Advancing issues outnumbered declining ones on the TSX by 161 to 80, for a 2.01-to-1 ratio on the upside.

Eleven companies on the index posted a new 52-week highs, while two posted new lows.

- with files from BNN.ca