TORONTO (Bloomberg) - Canadian stocks rose, pushing the main index toward its biggest weekly gain in six years, as energy companies advanced on higher crude-oil prices and financial shares climbed on accounting rule changes.

EnCana Corp. led the rally among energy shares and Royal Bank of Canada paced the biggest weekly gain among banks and insurers in a decade, after Canada's Accounting Standards Board said it will give financial companies the flexibility with delay potential mark-to-market debt writedowns.

"That doesn't hurt. During the crash, mark-to-market exacerbated the panic liquidation," said Gavin Graham, director of investments at BMO Asset Management in Toronto, which manages about $45.3 billion.

"We've probably seen the bottom in the market, though we won't know for sure until later."

The Standard & Poor's/TSX Composite Index climbed 2.9 percent, to 9,539.30 at 3.50pm in Toronto.

The index has gained 5.2 percent this week, the most since October 2002. The S&P/TSX has still fallen 37 percent from its June 18 peak after mining and energy shares slumped along with commodity prices on concern that more than $640 million in credit losses at financial institutions worldwide will cause a global recession.

Royal Bank added 1.8 percent to C$46.47. Canadian Imperial Bank of Commerce gained 6.2 percent to C$57.75. Bank of Montreal climbed five percent to C$43.56.

Encana gained six percent to C$49.27. Crude oil for November delivery rose 2.9 percent to $71.85 a barrel after the Organisation of Petroleum signaled it will announce a production cut at a meeting next week.