Canada\\\'s main stock index edge higher

TORONTO, Jan 25 (Reuters): Canada's main stock index edged higher on Friday and recorded a sharp weekly gain as investors welcomed moves by the Bank of Canada and the European Central Bank (ECB) earlier this week.
The Canadian central bank unexpectedly cut interest rates on last Wednesday, while the ECB announced a massive stimulus plan on last Thursday to try to boost a sagging euro zone economy.
The benchmark TSX extended gains after jumping during the previous two sessions. It rose 3.3 per cent this week, its strongest in six.
"It's in general been very good for the markets," said Roland Chalupka, chief investment officer of Fiduciary Trust Canada, a unit of Franklin Templeton Investments.
"It is causing investors to take (another) look at the commodity-sensitive sectors and take some of the dire predictions out of the mix."
"Longer-term, it remains to be seen whether quantitative easing is effective in the European case and if it does actually promote global growth," he added.
The Toronto Stock Exchange's S&P/TSX composite index closed up 15.37 points, or 0.1 per cent, at 14,779.35. Six of the 10 main sectors on the index were higher.
Financials, the index's most heavily weighted sector, climbed 0.8 per cent. Royal Bank of Canada gained 1 per cent to C$75.42, and Toronto Dominion Bank added 1.1 per cent to C$52.42.
Shares of energy producers rose 1.3 per cent, reflecting strength in the price of Brent crude. Canadian Natural Resources Ltd advanced 0.4 per cent to C$36.36, and Crescent Point Energy jumped 4.7 per cent to C$30.46.