Toronto stocks closed higher Friday getting a boost from gains in energy issues. The S&P/TSX composite finished up 36.51 points, or 0.43%, at 8,529.89. For the week, the benchmark index rose 1.9%.

Energy stocks rose 0.8% to lead all sectors, while the materials group, home to gold-mining issues, rose 0.5%. Eight of the TSX’s 10 main sub-indexes finished higher.

Oil stocks rose as crude oil futures surged almost US$2 a barrel to their highest close in more than three weeks amid concerns over how Hurricane Ivan and new storms might affect oil production.

Petro-Canada shares rose $1.76, or 2.8%, to $63.41 after the federal government decided to sell its remaining 19% stake in the company.

Shares of EnCana Corp. finished up 31¢, or 0.5%, at $55.51, while Suncor Energy rose 45¢, or 1%, to $37.93.

Among gold issues, Barrick Gold climbed 11¢ to $25.21, while Goldcorp jumped 17¢, or 1%, to $16.23. The junior S&P/TSX Venture composite index was up 6.69 points to 1,532.94.

On Wall Street, stocks ended higher on Friday after Ford Motor Co. raised its earnings forecasts but gains on the Nasdaq were checked after wireless technology provider Qualcomm Inc. said an accounting review may reduce pretax income.

The Dow Jones industrial average was up 39.97 points, or 0.39%, at 10,284.46. The Standard & Poor’s 500 was up 5.05 points, or 0.45%, at 1,128.55. The tech-laced Nasdaq composite index was up 6.01 points, or 0.32%, at 1,910.09.

It was the S&P 500’s highest weekly close since June 27.

For the week, the Dow slipped 0.3%.

The Canadian dollar dropped two-thirds of a U.S. cent in early trading Friday after a tame inflation report eased pressure on the Bank of Canada to raise interest rates in coming months.