After a volatile trading session, the Toronto Stock Exchange finished the day nearly 1% lower on Friday, dragged down by the heavyweight energy group.

The S&P/TSX composite index finished at 9,762.85, down 86.35, or 0.9%. For the week, the benchmark index retreated by about 4.5%.

Energy stocks fell 2.5% on Friday as oil futures dropped. Crude for June delivery tumbled US$2.28, or 3.9%, to US$56.34 a barrel on the New York Mercantile Exchange. For the week, the contract fell 3.9%.

Shares of Petro-Canada fell $1.10, or 2.6%, to $41.60 and Husky Energy Inc. dropped 4.1% to $31.16.

Suncor Energy Inc. shares finished the day at $33.67, down 2.8%.

Also lower was Nexen Inc., off 2.9% to $22.63, and Canadian Natural Resources Ltd., down 2.8% to $57.96.

The TSX financials group on the fell 0.9%.

Within the group, shares of Bank of Nova Scotia dipped 1.1% to $35.00.

Manulife Financial Corp. fell 2.8% to $21.00 and Onex Corp. declined 3.5% to $21.25.

Meanwhile, gold for June delivery rose US$2.90, or 0.3%, to US$931.30 an ounce on the Comex division of the New York Mercantile Exchange. The contract advanced 1.8% during the week.

Gold stocks on the TSX retreated, pulling the sub-gold index down 1.1%, while the materials group fell 0.8%.

Inmet Mining Corp. dropped $2.15, or 4.9%, to $41.70 and shares of First Quantum Minerals Ltd. fell 3.6% to $45.51.

Agnico-Eagle Mines Ltd. gave back 2% to finish at $61.32.

Higher for the day was Agrium Inc., up $2.17, or 4%, to $56.82.

Junior companies advanced on Friday, pulling the S&P/TSX Venture composite index up 2.57 points, or 0.2%, to 1,063.09.

The Canadian dollar fell by more than half a cent to close at US84.81¢.

Canadian financial markets will be closed Monday for the Victoria Day holiday.

In New York, the main U.S. stock market indices were also weighed down by energy shares, adding to considerable weekly losses.

The Dow Jones industrial average shed 62.68 points, or 0.8%, to 8,268.64, leaving the blue-chip average off 3.6% for the week.

The S&P 500 index fell 10.19 points, or 1.1%, to 882.88, down 5% from the week-ago close.

The Nasdaq composite index dropped 9.07 points, or 0.5%, to end at 1,680.14. For the week, the index retreated 3.4%, marking its first weekly decline in nine weeks.

IE