Toronto stocks closed higher, though off session highs, on Thursday as investors opted to lock in profits ahead of the Easter long weekend amid worries about security in Iraq.

The S&P/TSX composite index closed up 25.89 points to 8,833.48, for a gain of 34.73 points this week.

Decliners beat advancers 644 to 616 with 218 unchanged, with 199 millions shares changing hands.

Oil stocks advanced 1.1%, as the price of crude oil continued to climb over U.S. oil and gasoline inventory concerns and the fighting in Iraq. Crude futures rose UUS99¢ to US$37.14 a barrel in New York. Suncor was ahead 75¢ to $35.00 and Canadian Natural Resources climbed $1.45 to $77.70.

The tech, financials and consumer discretionary groups rounded out the gainers. On the downside, utilities, health care and telecoms led the decliners.

Among technology issues, ATI Technologies rose 63¢ to $22.83. However, Research In Motion backed off $1.16 to $140. It revealed plans for a two-for-one stock split on Wednesday, after announcing a more than doubling of its quarterly profit on soaring sales of its BlackBerry devices.

In corporate news, the Hockey Co., a Canadian maker of sports equipment whose roots go back to 1899, will be taken over by multinational Reebok International in a deal valued at $435 million. Hockey Co. shares surged $3.88 to $21.08, while in New York, Reebok slipped 5¢ to $42.04 US.

The TSX Venture Exchange closed up 3.15 points to 1,884.82.

In New York, the Dow Jones industrial average finished down 38.12 points at 10,442.03, losing 28.56 points on the week. The tech-heavy Nasdaq composite index nudged up 2.62 points to 2,052.86 for a loss of 4.31 points this week, while the S&P 500 index edged 1.2 points lower to 1,139.33.

In New York, markets opened higher in response to a strong earnings reports from Yahoo and General Electric. As well computer maker Dell raised its first-quarter revenue forecast.

However, investors were distracted by intensifying fighting in Iraq.

The Canadian dollar tumbled 0.99¢ to 7US5.37¢ as the March employment report showing a net loss of 13,000 jobs and an increase in the jobless rate by a tenth of a point intensified expectations of another interest rate cut next Tuesday.

Meanwhile, U.S. weekly jobless claims fell to 328,000, the lowest level in more than three years.