Crude Oil Rally Lifts TSX -- Canadian Commentary

(RTTNews) - Canadian stocks finished a turbulent week on a high note Friday, powered by gains among banks and energy companies for a second day in a row.

The S&P/TSX Composite Index rose 130.29 points to 13,396.73, having snapped a 4-day losing skid in the previous session.

West Texas Intermediate crude futures for May delivery rose $2.46, or 6.6%, to end at $39.72 a barrel.

Prices were up about 8% for the week, with most of the gains coming after data showed a surprising decline in U.S. crude oil inventories.

Energy stocks surged 2.7%, while banks added 1%

Valeant (VRX.TO) shares slipped 6%, trimming mid-week gains.

Markets cheered an upbeat Canadian jobs report released ahead of the opening bell.

Employment rose 41,000 last month, erasing losses in January and February. That brought the unemployment rate down to 7.1% from 7.3%.