TORONTO (Reuters) - Canada's benchmark stock index edged up to a one-week high on Monday as financial and consumer discretionary shares gained ground, while energy and mining stocks were pressured by lower commodity prices.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) closed up 5.83 points, or 0.04 percent, at 16,004.40, its highest close since Nov. 13.
The financials group, which contributes more than a third to the index's overall weight, rose 0.2 percent, helped by gains for some of the country's major banks as bond yields rose.
Canada's 10-year yield climbed 2.3 basis points to 1.960 percent. Higher bond yields increase net interest margins of banks.
The largest percentage gainer on the TSX was Home Capital Group Inc (Toronto:HCG.TO - News), which rallied 7.0 percent to C$16.77. Last week, some analysts raised their target price on the stock after the mortgage lender reported third-quarter results.
Seven of the index's 10 main groups ended higher.
The energy group, which accounts for almost one-fifth of the index's weight, retreated 1.8 percent as oil prices fell.
The materials group, which includes precious and base metals miners and fertilizer companies, fell 0.8 percent.
The TSX composite index lost ground last week, breaking a nine-week winning streak that had pushed it to an all-time high.
(Reporting by Fergal Smith and Alastair Sharp; Editing by Susan Thomas)