Toronto stocks closed higher Friday as technology shares rebounded. The S&P/TSX composite index rose 15.62 points to 8,604.73. For the week, the TSX gained just under 1%.

The technology group jumped 1.83%., while health-care stocks added1.37%.

Among techs, bellwether Nortel Networks gained 34¢ to $8.52.

Research In Motion rose $2.35 to $111.84 while Sierra Wireless shares added 98¢ to $29.93.

The TSX energy sector notched an 0.83% gain supported by oil prices close to recent post-Iraq war highs. Frigid weather in Eastern North America coupled with rock-bottom inventories in the United States, the world’s biggest oil consumer, has stoked supply fears.

Nexen gained $3.40 at $53.15.

Precision Drilling rose $1.20 at $64.50 and Ultra Petroleum was up 97¢ at $32.90.

Declines in the heavily-weighted financial sector and among industrial stocks tempered the market’s gains.

The junior S&P/TSX Venture composite index slipped 0.94 of a point to finish at 1,814.47.

On Wall Street, U.S. blue chips fell but the technology-laden Nasdaq edged higher.

Technology stocks pared gains from the morning, although industry bellwether Microsoft shares rallied after it lifted its revenue forecast on Thursday.

The Dow Jones industrial average fell 54.89 points, to 10,568.29. The S&P 500 Index eased 2.39 points to 1,141.55. The Nasdaq composite index rose 4.85 points to 2,123.86.

For the week, the Dow slipped 0.30%, breaking eight straight weeks of gains. The Nasdaq fell 0.78%, breaking a six-week long winning streak. But the broader S&P rose 0.15%, its ninth straight up week.

Monday will kick off one of the busiest weeks in corporate America’s quarterly reporting period.

The Canadian dollar dropped by more than a cent against its U.S. counterpart Friday, as currency markets reacted to the prospect of further interest rate cuts in Canada.

The loonie finished at US76.16¢, off 1.04¢ US from Thursday’s close.

On Thursday, the Bank of Canada cautioned that economic growth for 2004 will be lower than the central bank forecast in October. The bank said the domestic economy should expand by 2.75% in 2004, down from the 3.25% growth it had predicted last autumn.