Toronto stocks posted modest gains on Friday, lifted by continued strength in mining shares.

The S&P/TSX composite index closed up 39.29 points, or 0.3%, at 14,118.70.

For the week, the benchmark index added 1.5%.

The gold index provided strength, up 2.45% with the August bullion contract in New York ahead $4.20 to US$654.80 an ounce.

Goldcorp share rose 67¢, or 2.6%, at $26.97. Barrick Gold advanced 42¢, or 1.3%, to $32.16.

The base metals sector headed 1.8% higher.

Alcan shares jumped $1.08, or 1.2%, to $90.90 after reports that global mining giant Rio Tinto may make a takeover bid for the Canadian aluminum producer

Financials was one of four sectors to retreat on Friday, slipping 0.1% as strong Canadian jobs data solidified expectations that the Bank of Canada will raise interest rates next week.

Bank of Montreal was down 29¢, or 0.4%, at $69, and Sun Life Financial Inc. slipped 17¢, or 0.3%, to $50.51.

Expectations of higher interest rates also pushed the Canadian dollar broke through the US95¢ barrier today. The loonie closed up 0.7 of a cent at US95.33¢.

The junior S&P/TSX Venture Exchange composite index finished up 24.34 points at 3,249.35.

In New York, stocks gained after rising oil prices lifted energy shares and a strong jobs report reassured investors about the economy.

The Dow Jones industrial average was up 45.84 points, or 0.34%, at 13,611.68. The S&P 500 was up 5.04 points, or 0.33%, at 1,530.44. The Nasdaq composite index was up 9.86 points, or 0.37%, at 2,666.51.

On the week, the Dow gained 1.5% and the S&P climbed 1.8%. The Nasdaq advanced 2.4%, its best weekly performance since late-March.