Stocks in Toronto finished the final day of a good week on modestly positive note, although the financial sector slipped when Royal Bank of Canada reported that it missed quarterly earnings estimates.

The Toronto Stock Exchange S&P/TSX composite index rose 23.24 points, or 0.34%, to close at 6,859.80. This was the fifth straight week of gains. Eight of the TSX’s 10 sub-indexes finished higher. The information technology sector led the day, finishing up 2.5%. Shares of graphics chip maker ATI climbed 15% to $11.40 fuelled by speculation the company had been selected for substantial new contracts.

Royal Bank missed analyst estimates for second-quarter profits due to pressure from a stronger Canadian dollar. Shares of Royal Bank make up about 5.4% of the main TSX index. They dropped $2.38, or 3.9%, to $58.89. Canadian Imperial Bank of Commerce shares followed suit, dropping $1.34, or 2.7%, to $48.55.

One bright light, insurer Fairfax Financial Holdings, bucked the negative trend. Its subsidiary, Crum &Forster, is set to sell $300 million in bonds in a private offering in the United States. Fairfax stock rose $21.15, or 14.8%, to close at $164.15.

The picture for equities, south of the 49th parallel was also bright as stocks rose in heavy trading today. The S&P 500 and Dow Jones industrial average achieved their third positive month in a row for the first time since late 2001. The latest survey of manufacturing growth in the U.S. Midwest, released early today, was surprisingly strong inspiring investors to bet that the economy will strengthen.

The Nasdaq composite index rose 20.96 points today to 1,595.91, ending at its highest level in a year. The Standard & Poor’s 500 jumped 13.95 points to 963.59, its highest close since early July. The Dow Jones industrial average climbed 39.08 points, or 1.60%, to 8,850.26, its highest close this year.