Canada's main stock market edged down Friday but for the week it gained 1.9 percent as the heavyweight financials group gained ground, offsetting losses for telecom shares.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index fell 0.69 points to close the day at 15,454.23.

Seven of the index's 10 main groups ended lower, including losses for defensive sectors, such as telecoms and utilities, which tend to underperform as rates rise.

Telecoms suffered most as BCE Inc. slipped 26 cents to 58.64 Canadian dollars while Rogers Communications dropped 86 cents, or 1.7 percent to 63.71 Canadian dollars.

Among health-care issues, Canopy Growth lost two cents to 10.45 Canadian dollars while Valeant Pharmauceticals fell 28 cents, or 1.6 percent, to 17.27 Canadian dollar.

In the utilities sector, Fortis Inc. declined 23 cents to 44.94 Canadian dollars.

Gold led the gainers Friday, as Goldcorp rallied 13 cents to 15.84 Canadian dollars and IAMGOLD rallied nine cents, or 1.2 percent, to 7.80 Canadian dollars.

Among materials, First Quantum Minerals rose 28 cents, or two percent, to 14.03 Canadian dollars while Teck Resources gained 18 cents to 27.10 Canadian dollars.

In the financial field, CIBC prospered 71 cents to 109.41 dollars, while Scotiabank took on 39 cents to 79.72 Canadian dollars.

Statistics Canada reported Friday that the consumer price index rose 1.4 percent on a year-over-year basis in August, following a 1.2 percent increase in July. On a seasonally-adjusted monthly basis, inflation grew 0.2 percent in August, matching the increase in July.

The Canadian dollar subtracted 0.03 cents to 0.81.08 U.S. dollar while oil prices rose nine cents a barrel to 50.64 U.S. dollars and gold prices advanced 5.50 to 1,300.30 U.S. dollars an ounce.