Toronto stocks fell Friday, finishing off a tough week for the senior equity index, as the market was weighed down by sinking resources and financials sectors, despite a strong showing in information technology and the telecommunications index.

Meanwhile, New York markets were closed in observance of Independence Day in the U.S.

The S&P/TSX composite index fell 133.18, or 0.94%, to 14,010.39. For the week, the senior index gave up 344 points, or 2.40%.

Eight of the 10 TSX main sub-groups were down on the session.

However, the telecommunications index rose 5.36%.

BCE Inc. shares soared $4.49, or 12.77%, to $39.64 after the group acquiring the firm, led by Ontario Teachers’ Pension Plan, said it would pay $42.75 a share, the price it had originally proposed, when the deal was first announced.

Light, sweet crude futures moved down $1.14 to US$144.15 a barrel in electronic trading on the New York Mercantile Exchange.

The energy index fell 1.77%, with Talisman Energy Inc. giving up 54¢, or 2.56%, to $20.53.

The materials index dropped 1.51%. Barrick Gold fell 43¢, or 0.93%, to $45.85.

Financials fell 0.92%. Toronto Dominion Bank fell 25¢, or 0.39%, to $63.09 after the bank announced it would take a $96 million charge on mispriced assets.

The Canadian dollar closed at US 98.04¢ cents, down 0.11¢ from yesterday’s close.

The S&P TSX Venture Exchange rose 3.28, or 0.13%, to 2,562.99.