Despite Friday’s negative GDP report, the benchmark index of the Toronto Stock Exchange gained more than 100 points, as commodities stocks led the charge.

The S&P/TSX composite index closed up 137.56 points, or 0.94%, at 14,714.73, as six of the 10 major TSX groups gained today.

The financial sector maintained strength during as a weak of grim bank earnings comes to a close. The group closed up 0.54%.

TD Bank Financial Group shares closed up $1.94, or 2.77%, at $71.89 while Royal Bank of Canada stock gained 27¢, or 0.53%, to close at $50.80.

Meanwhile, the materials group gained 2.36%, as the gold sub-index moved ahead 2.90%.

Gold for August delivery closed up US$9.80, at US$891.50 an ounce on the Nymex. It was 4.2% lower for the week and up more than $22 for the month.

Barrick Gold Corp. shares closed up $1.26, or 3.25%, to end at $40.03 and Kinross Gold Corp. shares gained 39¢, or 2.01%, to end at $19.84.

The base metals group closed up 2.34%, as Teck Cominco Ltd. shares gained $1.86, or 3.92%, to end the session at $49.27.

The energy group closed up 1.39%,

Crude oil for July delivery closed up 73¢ at US$127.35 a barrel on the New York Mercantile Exchange. July crude ended the week down 3.7% lower but crude prices are up 12.2%, or $13.89, for the month.

Shares in Talisman Energy Inc. closed up 39¢, or 1.72%, at $23.10.

Shares in market heavyweight Encana Corp. gained $1.34, or 1.52%, to end at $89.75.

The junior S&P/TSX Venture composite index closed up 28.40 points, or 1.08%, at 2,657.00.

The Canadian dollar closed at US100.70¢, after Statistics Canada reported gross domestic product was down 0.1% in the first quarter, the first quarterly decline in almost five years.

In New York, markets bounced in and out of red territory as positive earnings news from computer giant Dell Inc. and not-as-bad-as-expected inflation data affected investor decisions.

The Dow Jones industrial average closed down 7.90 points, or 0.06%, at 12,638.32.

The S&P 500 closed up 2.12 points, or 0.15%, to close at 1400.38.

The tech-heavy Nasdaq closed up 14.34 points, or 0.57%, to close at 2,522.66.

In U.S. economic news, the Chicago purchasing managers index, which looks at manufacturing in the U.S. Midwest, contracted for the fourth month in a row, with a 1.7% rise to 49.1. As well, he Reuters/University of Michigan index of consumer sentiment fell to 59.8, its weakest reading since June 1980.