A boost in resource stocks pulled the Toronto Stock Exchange higher on Friday, as oil futures extended their weekly gain to more than 8%.

The S&P/TSX composite index gained 43.83 points, or 0.4%, to close at 9,993.42. For the week, the benchmark index rose 2.4%.

The energy group gained 1.1% as oil futures climbed higher. Crude for July delivery rose US$0.62, or 1%, to close at US$61.67 a barrel on the New York Mercantile Exchange. It ended the week up 8.2%.

On the TSX, shares of Suncor Energy Inc. rose 2.2% to $35.65 and Petro-Canada saw its stock gain$1.10, or 2.6%, to $44.22.

Also higher was Husky Energy Inc., up 1.9% to $32.02, and Nexen Inc., up 2.1% to $24.50.

Materials stocks also advanced on Friday, gaining 1.2% as gold futures edged higher. Gold for June delivery closed at US$958.90 on the Comex division of the New York Mercantile Exchange, up US$7.70, or 0.8%. The metal finished the week up 3%.

Despite the gain for gold, the TSX sub-gold index slipped 0.4%.

Shares of Teck Resources Ltd. jumped 4.8% to $15.87 and Inmet Mining Corp. closed at $42.80, up 2.3%.

Barrick Gold Corp. added 1.6% to $42.65 and First Quantum Minerals Ltd. rose 3.3% to $48.66.

Also higher was Potash Corp., up $3.78, or 3.1%, to $127.80.

Meanwhile, financial stocks lagged on Friday, finishing down 0.2%.

National Bank of Canada dipped 1.2% to $47.52 and shares of Bank of Montreal retreated 1.6% to $40.87.

Gainers included Bank of Nova Scotia, which advanced 1.2% to $35.97, and Manulife Financial Corp., up 1.2% to $21.64.

The junior S&P/TSX Venture composite index added 6.66 points, or 0.6%, to close at 1,096.51.

The Canadian dollar surged nearly a cent and a half, to close at US89.26¢.

South of the border, U.S. stocks erased earlier gains to finish in negative territory on concerns about a potential bankruptcy for General Motors Corp.

The Dow Jones industrial average finished down 14.81 points, or 0.2%, at 8,277.32. For the week, the blue-chip index added 0.5%.

The S&P 500 index fell 1.33 points, or 0.2%, to end at 887, up 0.5% for the week.

The Nasdaq composite index slipped 3.24 points, or 0.2%, to 1,692.01 on Friday, but registered gains of 0.7% for the week.

Shares of GM tumbled 25% to $1.43 on the New York Stock Exchange.

IE