Strength in the energy sector lifted the benchmark index of the Toronto Stock Exchange to a small gain Friday at the end of a slow session ahead of the Labour Day weekend.

The S&P/TSX composite index edged up 20.77 points, or 0.15%, to 13,771.25.

For the week the index gained 2.4%.

The energy sector gained 0.8% even as oil prices backed off from the highs of the day despite worries about potential damage to U.S. Gulf Coast oil and gas installations from hurricane Gustav.

The October crude contract on the New York Mercantile Exchange was up 13¢ to US$115.46 after earlier moving as high as US$118.76.

Suncor Energy rose 84¢ to $60.80 and EnCana Corp. was up 64¢ to $79.81.

The base metals sector rose 1% with Teck Cominco Ltd. ahead $1.16 to $44.36.

The tech sector fell 1% following a disappointing earnings report from computer maker Dell Inc.

In Toronto, Research In Motion shares dropped $4.07 to $129.37.

The financial sector stepped back 0.3% after gaining about 4% Thursday.

Bank of Nova Scotia dipped 68¢ to $49.05 while CIBC gained $1.27 to $64.17.

The junior S&P/TSX Venture composite index rose 19.79 points, or 1.01%, to 1,983.64.

The Canadian dollar fell almost a 1¢ after Statistics Canada reported that real gross domestic product moved up a 0.3% in the second quarter, raising speculation that the Bank of Canada could cut its key interest rate next Wednesday.

The loonie closed at US94.16¢, down from US95.07¢ on Thursday.

In New York, U.S. stocks tumbled after computer maker Dell warned that companies worldwide are cutting back on technology spending.

Weak consumer spending added to the market’s jitters after a government report showed U.S. personal income fell unexpectedly in July while spending slowed as the effects of a government stimulus package wore off.

The Dow Jones industrial average was down 171.47 points, or 1.46%, at 11,543.71. The S&P 500 was down 17.93 points, or 1.38%, at 1,282.75. The Nasdaq composite index fell 44.12 points, or 1.83%, to 2,367.52.

For the month, though, the Dow added 1.5%, while the S&P rose 1.3% and the Nasdaq gained 1.8%.

The U.S. bond market closed early on Friday ahead of the Labour Day holiday, contributing to thin trading volume.