Stocks in Toronto managed to climb above 7,000 Friday. It may have been the end of earnings season that spurred investors with a sense of optimism.

The Toronto Exchange 300 composite index ended the day up 61.21 points at 7,004.90. It was big day for the financial services sector. It recorded back-to-back winning sessions for the first time since September.

Clarica Life Insurance Co. benefited from take-over speculation and a strong earnings report issued on Thursday. The company’s stock rose $1.11, or 2.4%, to $47. Royal Bank of Canada added 75¢, climbing to $46.25, adding 1.6%.

Overall, six of the TSE 300 subgroups advanced. Oil and gas stocks climbed 2.77%, spurred by reports that OPEC is considering a reduction in production to raise prices.

Canadian Natural Resources Ltd. rose $1.85 to $43.00. Alberta Energy Company Ltd. leapt $2.46 — 4.1% — to $62.40.

In the U.S., blue-chip stocks had a good trading day. A rally in defense stocks, in expectation of a huge U.S. government order for fighter jets, helped. On the other hand, technology stocks dipped to a dim sales outlook from fiber-optics maker JDS Uniphase

The Dow Jones industrial average gained 82.27 points to end at 9,545.17. The Standard & Poor’s 500 Index climbed 4.52 points to 1,104.61. The Nasdaq composite index edged back slightly by 6.51 points to 1,768.96.