The Toronto Stock Exchange continued to climb higher on Friday despite news that the Canadian unemployment rate surged to an 11-year high of 8.4% in May.

The S&P/TSX composite index rose 92.05 points, or 0.9%, to finish at 10,569.29. For the week, the benchmark index added about 2%.

Earlier on Friday, Statistics Canada reported that 42,000 jobs were lost in the month of May. The decline in employment, which was roughly in line with expectations, failed to rattle investors.

The energy group advanced 1.4% on Friday, despite a dip in oil futures. Crude oil for July delivery fell 37 cents, or 0.5%, to end at US$68.44 a barrel on the New York Mercantile Exchange. For the week, the contract added 3.2%.

Shares of Suncor Energy Inc. jumped 2.6% to $38.47 and Petro-Canada gained $1.28, or 2.7%, to finish at $48.43.

Husky Energy Inc. advanced 2.4% to $34.45, while shares of Imperial Oil Ltd. rose 1.7% to $45.30.

Financial stocks rose 1.1% on Friday.

Shares of IGM Financial Inc. jumped $1.28, or 3.2%, to $41.20 and National Bank of Canada advanced 1.9% to $53.02.

TMX Group Inc. saw its shares rise 2.3% to $34.44.

Also higher was Royal Bank of Canada, up 1.5% to $45.50.

Meanwhile, materials stocks retreated by 0.7% on Friday as gold futures tumbled. Gold for June delivery fell US$19.50, or 2%, to US$961.70 an ounce on the Comex division of the New York Mercantile Exchange. For the week, gold ended down 1.8%.

Plummeting gold stocks sent the TSX sub-gold index down 3.1%.

Shares of Kinross Gold Corp. tumbled $1.15, or 5.3%, to $20.73.

Goldcorp Inc. dipped 2.1% to $40.52 and Barrick Gold Corp. fell 1.9% to $40.50.

Other materials stocks advanced, including Potash Corp., up 1.7% to $127.13, and First Quantum Minerals Ltd., which added $1.42, or 2.8%, to $52.92.

The S&P/TSX Venture composite index edged up 4.83 points, or 0.4%, to close at 1,137.99.

The Canadian dollar dropped sharply on Friday’s employment news, shedding almost two cents to close at US89.37¢.

U.S. stocks finished with mixed results on Friday as investors digested news that the U.S. economy shed 345,000 jobs in the month of May.

The Dow Jones industrial average gained 12.89 points, or 0.2%, to end at 8,763.13. For the week, the blue-chip index added 3.1%.

The S&P 500 index fell 2.37 points, or 0.3%, to 940.09, leaving it ahead 2.3% from the week-ago close.

The Nasdaq composite index ended the day flat at 1,849.42, up 4.2% from last Friday’s close.