Strength in commodities helped lift the benchmark index of the resource-heavy Toronto Stock Exchange higher for a fifth consecutive day on Friday.

The S&P/TSX composite index gained 65 points, or 0.6%, to close at 10,369.42. For the week, the benchmark index gained 6.3%.

Energy stocks gained 1.7% as oil futures climbed higher. August crude rose US$1.54, or 2.5%, to end at US$63.56 a barrel on the New York Mercantile Exchange. For the week, crude jumped 6.1%.

Shares of Petro-Canada added $1.39, or 3.3%, to $43.27 and Niko Resources Ltd. gained 3.6% to finish at $78.65.

Suncor Energy Inc. advanced by $1.16, or 3.5%, to $33.95.

Shares of EnCana Corp. rose 1.4% after news that the company would sell some of its non-core Alberta natural gas and oil properties to Bonavista Energy Trust for $707 million. EnCana’s stock gained 78 cents to $56.59, while Bonavista units retreated, shedding 5.3% to $16.85.

Materials stocks advanced by 1.4% during Friday’s trading, lifted by a boost in gold futures. On the Comex division of the New York Mercantile Exchange, August gold rose US$2.10, or 0.2%, to US$937.50 an ounce. Gold futures gained 2.7% during the week.

The sub-gold index moved higher by 1%.

First Quantum Minerals Ltd. surged 6.4% to $62.60 and Goldcorp Inc. rose 1.6% to $41.04.

Shares of Teck Resources Ltd. jumped $1.02, or 4.6%, to $23.42. Since last Friday’s close, Teck shares have gained $5.45, or more than 30%.

Shares of Ivanhoe Mines Ltd. recovered some of Thursday’s hefty losses, advancing 4.1% to $9.06 on Friday.

Meanwhile, the financials group finished the day flat.

Higher for the day was CI Financial Ltd., up 1.6% to $19.85, and Great-West Lifeco Inc., up 1.6% to $23.00.

Others retreated, including Sun Life Financial Inc., down 1% to $31.35, and Intact Financial Corp., down 1.1% to $34.35.

Junior stocks retreated on Friday, pulling the S&P/TSX Venture composite index down 2.18 points, or 0.2%, to 1,095.62.

The Canadian dollar edged higher by less than a tenth of a cent, to close at US89.60¢.

In New York, the main U.S. stock market indexes were little changed by the end of Friday’s session, but finished the week with hefty gains.

The Dow Jones industrial average gained 32.12 points, or 0.4%, to end at 8,743.94. The blue-chip average finished the week up 7.3%.

The S&P 500 index dipped just a third of a point to 940.38, to end the week up 7%.

The Nasdaq composite index rose 1.6 points, or 0.1%, to 1,886.61. It gained 7.4% on the week.

IE