Toronto stocks closed higher on Friday buoyed by gains in oil and gas, gold and financial services stocks.

The TSE 300 gained 68.90 points to close at 7,209.69.

Oil and gas stocks jumped 2.33%, as crude prices strengthened.

Overall, 12 of the TSE’s 14 sub-indexes posted gains. The influential financial services sub-index climbed 1.09%.

Canada’s banks put in a good performance today led by Bank of Nova Scotia, which gained $1.40 to $48.80. Royal Bank jumped 95¢ to $48.25. BMO, CIBC and TD also logged gains.

Insurer Sun Life didn’t fare as well, slipping 40¢ to $34.85.

Among oil and gas shares, Canadian Natural Resources added 4.7% to $42.83, while Talisman Energy Inc. rose 3.2%, to $60.35.

The day’s top trader was Bombardier, up 14¢ to $11.99, on a volume of 11 million shares.

Canada 3000 shares plunged at open, after the airline suspended operations. The shares fell 66%, or $2.06 to close at $1.05.

Air Canada profited from the trouble at its rival; AC shares gained 22¢ to close at $3.84.

Market momentum was positive as advances stepped on declines 575 to 436. Total volume on the TSE was 139 million shares.

The CDNX Index gained 26.48 points to close at 3,032.79. Trading was active on a volume of 29.7 million shares, with 204 advances and188 declines.

In New York, stocks closed slightly higher Friday following mixed economic news. The Dow Jones industrial average gained 20.48 points to 9,608. The Nasdaq composite index rose less than a point to 1,828.49, and the S&P 500 tacked on 1.77 points to 1,120.31.

The Canadian dollar slipped to a new lows in Friday. At the close of official Bank of Canada trading, the loonie was at US62.37¢, down 0.17¢ from Thursday’s record low close of US62.54¢

But there was good news as mortgage rates tumbled again on Friday, dropping to their lowest levels since 1963.

A 1-year closed mortgage is now 4.5% at CIBC and Bank of Montreal, and 4.6% at Royal and TD.