The Globe and Mail reports in its Thursday edition that Canada's main stock index rose on Wednesday as higher oil prices boosted energy shares and the major banks continued to beat earnings estimates. A Reuters dispatch to The Globe reports that the S&P/TSX Composite Index ended up 111.26 points, or 0.4 per cent. It follows two consecutive days of losses for the index, retreating from a record closing high on Friday. Verecan manager Devin Cattelan noted that recent market pullbacks has investors assessing the long-term payoff and justifiable valuations. Canada's stock market has a lower weighting than Wall Street in technology stocks that have spent heavily on AI, but a relatively high exposure to metal mining shares. The energy sector rose 2 per cent as the price of oil settled 0.5 per cent higher at $58.95 a barrel. The U.S. and Russia failed to reach a deal to end the war in Ukraine that could have eased sanctions on Moscow's oil sector. Financials inched up 0.1 per cent, with shares of RBC rising 1.1 per cent to a record high after it topped analyst' estimates for fourth quarter earnings. National Bank of Canada also reported earnings ahead of analysts' estimates but its shares ended 1.6 per cent lower.