TORONTO - The Toronto stock market climbed modestly as the TSX wound up 2009 trading with one of its biggest annual gains in more than a quarter century.

The S&P/TSX composite index rose 28.65 points to 11,746.11. The TSX is up about 31 per cent for 2009 -- its best one-year gain since 1983.

The Canadian dollar climbed 0.39 of a cent to 95.15 cents US, a sharp rise from the 82.1-cent level where it started 2009.

Oil closed up eight cents to US$79.36 a barrel, more than double the US$33.98 level it saw in early February.

New York markets closed lower, with the Dow Jones industrial average down 120.46 points to 10,428.05. The Nasdaq composite index stepped back 22.13 points to 2,269.15 while the S&P 500 index slipped 11.32 points to 1,115.1.