Canada's main stock index ended higher on Thursday, helped by gains among energy stocks as oil prices picked up as well as rising financial, consumer and technology stocks.

The Toronto Stock Exchange's S&P/TSX composite index closed up 106.9 points, or 0.67 per cent, at 16,015.68.

Eight of the index's 10 main sectors finished in positive territory, with advancers outnumbering decliners by a 1.7-to-1 ratio.

The financials group, which accounts for more than a third of the index's weight, gained 0.6 per cent as Brookfield Asset Management Inc (BAMa.TO) added 2.8 per cent to $55.25 and Bank of Nova Scotia (BNS.TO) rose 1.2 per cent to $82.78.

The energy group, another major force on the index, added 0.4 per cent, with Suncor Energy Inc (SU.TO) up 1.3 per cent at $44.11 and pipeline operator Enbridge Inc (ENB.TO).

Oil prices climbed more than 1 per cent due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by an unexpectedly large rise in U.S. stocks of refined fuels.

BlackBerry Ltd (BB.TO) rose 1.2 per cent to $13.21 after announcing it would expand its partnership with chipmaker Qualcomm into automotive systems on a non-exclusive basis.

Dollarama Inc (DOL.TO) jumped 5.3 per cent to $157.61 after the discount store chain announced a share buyback plan and as a string of analysts adjusted their price targets on the stock following earnings that topped expectations on Wednesday.

Industrials, led by gains for the country's two main railway companies, rose 0.7 per cent, while Westjet Airlines Ltd (WJA.TO) added 2.9 per cent to $27.16 after RBC raised its price target on the stock after its Wednesday announcement of a joint venture with Delta Air Lines.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.7 per cent.

Emera Inc (EMA.TO) fell 3.0 per cent to $47.83 after the energy company announced a bought deal to raise at least $700 million.

Valeant Pharmaceuticals International Inc (VRX.TO) rose 5.4 per cent, recovering from a fall on Wednesday after announcing the pricing on its latest debt issuance.