Toronto stocks rallied for a third consecutive session on Friday, getting a boost from strong earnings from Royal Bank.

The S&P/TSX composite index closed 71.77 points higher, or 0.6%, at 11,978.68.

The benchmark index finished the week with a 1.4% gain.

Overall, nine of the 10 TSX main groups closed higher. The industrials sector was the only one finishing in the red, down 0.29%.

The financial sector added 0.86%, led by Royal Bank, up $3.07, or 3.2%, at $97.97.

Canada’s largest bank posted a 20% increase in profit, increased its dividend and announced a stock split.

CIBC shares $2.04, or 2.5%, to $83.27. CIBC reported better than expected results on Thursday.

However, Bank of Nova Scotia dropped 49¢, or 1%, to $47.25 despite posting quarterly results that matched analyst expectations.

The TSX energy sector also advanced, gaining 0.82%, as crude oil prices settled 24¢ higher at US$63.67 a barrel.

EnCana Corp. added $1.05, or 2.2%, to $50.

Research in Motion has reached a US$612.5-million settlement with arch rival NTP ending many years of legal wrangling that threatened to shut down use of the popular BlackBerry wireless devices in the United States.

The maker of the BlackBerry announced after markets closed that it has signed a definitive licensing and settlement agreement, ending the long dispute.

RIM’s U.S. share price rose 13% in after-hours trading after the agreement was announced. The US stock traded as high as US$81.03.

The junior S&P/TSX Venture composite index rose 39.36 points, or 1.51%, to end the week at 2,651.23.

The Canadian dollar closed at US88.11¢, down 0.28 of a cent.

On Wall Street, U.S. stocks finished little changed.

The Dow Jones industrial average dipped 3.92 points, or 0.04%, to end at 11,021.59. The S&P 500 was down 1.91 points, or 0.15%, at 1,287.23. The Nasdaq composite index was down 8.51 points, or 0.37%, at 2,302.60.

For the week, the Dow industrials fell 0.36% and the S&P 500 slipped 0.17%, while the Nasdaq gained 0.68%.