Canada's main stock index rose on Friday to extend this week's gains, helped by higher oil prices, which boosted energy shares, and a lift to bond yields after data showed stronger-than-expected jobs growth in the United States.

The Toronto Stock Exchange's S&P/TSX composite index closed up 66.01 points, or 0.43 per cent, at 15,257.97. For the week, the index gained 0.9 per cent.

"We have had some strong earnings out of Canada which is starting to turn the index around," said Ian Scott, equity analyst at Manulife Asset Management.

The index closed on Friday above its 50-day moving average for just the second time since early May, which could be a bullish signal.

Higher oil prices boosted energy shares nearly two per cent, with Suncor Energy Inc (SU.TO) climbing 1.3 per cent to $41.73.

U.S. crude oil prices settled 1.1 per cent higher at US$49.58 a barrel after a strong U.S. jobs report bolstered hopes for growing energy demand.

The U.S. data also lifted bond yields and gave "a bid to the financials," Scott said.

Signs of U.S. labour market tightness likely clears the way for the Federal Reserve to announce a plan to start shrinking its massive bond portfolio.

Higher yields reduce the value of insurance companies' liabilities and increase net interest margins of banks.

Royal Bank of Canada (RY.TO) rose 0.6 per cent to $94.52 and Fairfax Financial Holdings Ltd (FFH.TO) climbed 2.2 per cent to $613.20.

Canadian data also showed employment growth, but also a jump in the trade deficit which weighed on the Canadian dollar.

A pullback this week in the loonie, which has still strengthened more than nine per cent since early May, could provide some relief for the country's exporters.

Industrials rose 0.4 per cent as railroad stocks advanced, while consumer discretionary stocks climbed one per cent and technology rose 0.9 per cent.

Open Text Corp (OTEX.O) rose four per cent to $43.62 as several analysts increased their price targets on the business software company's stock after its quarterly earnings impressed.

Eight of the index's 10 main groups ended higher.

Major gold miners were among the heaviest weights as the spot price of the precious metal took a hit from expectations of tighter monetary policy from the Fed.

Barrick Gold Corp (ABX.TO) declined 2.1 per cent to $21.02 and Kinross Gold (K.TO) fell 2.9 per cent to $5.29.

Gold futures fell 0.7 per cent to US$1,258.5 an ounce.

First Majestic Silver Corp (FR.TO) tumbled 18.5 per cent to $7.89 after it reported disappointing earnings and outlook.