TORONTO (Reuters) - The Toronto Stock Exchange's main index advanced yesterday, logging another record high, as strong economic growth in resource-hungry China boosted commodity prices, lifting oil and mining issues.The S&P/TSX composite index closed up 42.10 points, or 0.3 percent, at 14,625.76 despite a decline in six of the index's 10 main groups.

Emboldened by news that China's economic growth surged in the second quarter to an 11-[1/2] year high, US crude oil futures jumped to an 11-month high of $76 a barrel.

Producers in Canada's oil patch benefited, including Nexen Inc., up C$1.38, or 4 percent, at C$35.85, and Canadian Natural Resources , up C$1.47, or 1.9 percent, at C$77.14. The energy sector as a whole gained one percent.

"The assumption of China's ravenous demand for resources is alive and well, and as a result we're seeing tremendous strength today in the energy side as well as the materials side," said Neil Andrew, associate portfolio manager at Leeward Hedge Funds.

Imperial Oil , however, slipped 15 Canadian cents, or 0.3 percent, to C$51.41, after the producer and refiner said it and Exxon Mobil Corp. had won exploration rights in Canada's Beaufort Sea.

The higher oil prices and continued weakness in the US dollar boosted bullion prices for a second day, lifting the TSX gold-mining sub-sector 1.8 percent. It has risen nearly six percent in two days.

"As long as we see strength in the oils or the golds or any of the commodities, we're going to see a good rally through the summer," said Bruce Latimer, a trader at Dundee Securities.

Barrick Gold rose 51 Canadian cents, or 1.4 percent, to C$35.75 after an Alaska court threw out a NovaGold Resources lawsuit contesting Barrick's behaviour in developing the companies' joint stake in the Donlin Creek project.

NovaGold was up 3 Canadian cents, or 0.2 percent, at C$16.88.

On the downside, the industrials declined 0.1 percent after surging four percent in the previous session.

After takeover talk surrounding Canadian Pacific Railway boosted it and Canadian National Railway Wednesday, the companies were two of the biggest weighted losers Thursday.

CPR skidded 30 Canadian cents, or 0.3 percent, to C$88.71, while CNR slipped 57 Canadian cents, or 0.9 percent, to C$60.08.

Market volume was 418 million shares worth C$7.4 billion. Advancers outpaced decliners 942 to 716. The blue chip S&P/TSX 60 index closed 2.59 points higher, or 0.3 percent, at 841.75.

Forecast-topping corporate results in the United States boosted confidence for second-quarter earnings on both sides of the border.