Toronto market posts weekly gain of more than 2pc

Toronto's main stock index ended slightly lower on Friday but still posted a solid weekly gain as investors eyed US bank earnings reports for signs of health in the US economy, reports Reuters.
The Toronto Stock Exchange's S&P/TSX composite index ended down 15.57 points, or 0.1 per cent, at 20,262.07. For the week, the index was up 2.2 per cent.
Wall Street also posted strong gains this week as data showed US inflation pressures easing and some major banks reported earnings.
"Banks earnings today look pretty good. It continues to show that the US consumer is doing fine paying down debt," said Barry Schwartz, chief investment officer at Baskin Financial Services. "That should add more confidence to the market over the coming weeks."
The Toronto market's heavily weighted financials sector gained 0.4 per cent, industrials rose 0.8 per cent and consumer staples ended 1.5 per cent higher.