TORONTO (Reuters) - The Toronto Stock Exchange’s main index ended higher Friday as a bounce in the price of oil lifted heavyweight energy issues.The S&P/TSX composite index closed up 51.98 points, or 0.4 percent, at 12,979.26. The TSX finished two percent higher for the week.

Overall, six of the index’s 10 main sectors were higher, led by a 0.8 percent rise in the energy group.

“The oil price and the natural gas price bounced primarily on the back of cold weather in North America,” said Rick Hutcheon, president and chief operating officer of RKH Investments.

“You’ve seen a bounce in some of the base metals as well. Those two together dictate what’s happening on the market.”

U.S. crude oil futures rose $1.19 to $55.42 a barrel after a $1.14 slide Thursday on expectations that the cold weather in the United States would prompt a rally in heating oil demand.

Talisman Energy Inc. rose 45 Canadian cents, or 2.3 percent, to C$20.40, while Suncor Energy rose C$1.04, or 1.2 percent, to C$87.85.

The materials sector, which houses gold miners, rose 0.7 percent. Teck Cominco gained 53 Canadian cents, or 0.6 percent, to C$85.69 and Inmet Mining Corp. gained C$1.60, or 2.7 percent, to C$60.

Elsewhere, shares of aluminium products maker Novelis Inc. surged C$8.40, or 24 percent, to C$44.05 after it said it was in talks over the potential sale of the company.

Atlanta-based Novelis was spun off by aluminium major Alcan Inc. two years ago and trades on the TSX as well as New York.

A bounce in the price of oil and natural gas were the main forces driving the market, but the “bottom line is the market is still very thin,” said Irwin Michael, portfolio manager at ABC Funds.