Toronto stocks closed up Friday, due largely to the strength of the materials sector. The market, though, retreated off session highs that saw the senior exchange charge over the 11,000 plateau, territory it hasn’t seen in five years.

The S&P/TSX composite index finished up 21.70, or 0.20%, to 10,998.02, after hitting a peak of 11,028.43 in intraday trading.

Volume was heavy in today’s session, at 403 million shares.

December delivery gold climbed US$4 to end at US$463.30 an ounce, its highest close in 17 years. The gold sector appreciated 2.80%.

Bema Gold Corp. gained 5 cents, or 1.52%, to $3.35, while Barrick Gold Corp. advanced 96 cents, or 2.88%, to $34.24.

The energy sector gained 0.22% despite a drop in the price of oil. Light crude fell US$1.75 to US$63.00 a barrel as OPEC suggested it would be boosting production and as world demand showed signs of easing.

Nexen Inc. gained 50 cents, or 0.88%, to $57.50. TransCanada Pipeline also gained 50 cents to end 35.36, up 1.43%.

UTS Energy Corp. gained 49 cents, or 9.94%, to $5.42

Telecom giants Rogers Communications and Bell Canada announced they were forming a joint venture to build and manage a national wireless network. Rogers gained 40 cents, or 0.83%, to $48.51, while BCE lifted 12 cents to 32.37, an increase of 0.37%.

The junior S&P/TSX venture exchange finished up 21.33, or 1.05%, to 2,046.52.

In New York, markets were boosted by the drop in the price of crude and the expiration of September futures and options contracts.

The Dow Jones Industrials closed up 83.19 points to 10,641.94, with 23 of 30 components advancing. The S&P 500 ended up 10.18 points at 1,237.91 and the Nasdaq composite gained 14.20 points at 2,160.35.