Financials Lead TSX Higher Once Again -- Canadian Commentary

(RTTNews) - Canadian stocks finished a strong week on a relatively upbeat note Friday, led once again by surging financials.

TD Bank and Royal Bank announced this week they are raising interest rates on long-term mortgages, moves expected to boost revenues down the road.

The S&P/TSX Composite Index was up 37.94 points to 14,864.03.

Ivanhoe (IVN.TO) said the DR Congo wants to be a prominent partner in the building of its massive Kamoa-Kakula Copper Project. Shares slipped 1.2 percnt.

Former executives of Valeant Pharmaceuticals (VRX.TO) and a Philidor pharmacy were charged with wire fraud by U.S. officials. The stock was up fractionally.

Brookfield Asset Management (BAM.A.TO) wants to take a 50-60 percent stake in SunEdison Inc unit TerraForm Power. BAM shares rose 0.65 percent.

In economic news, Stats Canada's Consumer Price Index rose 1.5% on a year-over-year basis in October, following a 1.3% increase in September.

On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.2% in October, matching the gain in September.