CANADA STOCKS-TSX ends higher on late surge in financials

Fri Aug 14, 2009 5:32pm EDT
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* TSX rises 0.2 percent to 10,848.01

* Ends week down 0.3 percent

* Mining and energy fall (Updates closing numbers, adds details, quotes)

By John McCrank

TORONTO, Aug 14 (Reuters) - Toronto's main stock index ended slightly higher on Friday as an end-of-session rally in financial shares outweighed weakness in commodity stocks, which were under pressure after a U.S. consumer confidence report raised doubts about economic recovery.

The S&P/TSX composite index .GSPTSE closed up 22.45 points, or 0.2 percent, at 10,848.01, with seven of its 10 main groups higher. For the week, the index ended down 0.3 percent.

The late flurry in financial stocks lifted the market as traders squared up their books at the end of the week.

"It was more technical than fundamental," said John Ing, president of Maison Placements Canada.

Royal Bank of Canada (RY.TO: Quote), the largest stock on the index, climbed 1.2 percent to C$51.36, while Toronto-Dominion Bank (TD.TO: Quote) ended up 0.74 percent at C$63.77.   Continued...