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TSX ends up 0.7% at 24,471.17

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For the week, the index climbs 1.3%

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Financials add 0.8%; tech rises 1.2%

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Nine of 10 major sectors notch gains

(Updates at market close)

By Fergal Smith

Oct 11 (Reuters) - Canada's main stock index extended

its record-setting run on Friday in a broad-based move that

included gains for heavily weighted financial shares as

investors cheered U.S. bank earnings and the move to lower

borrowing costs globally.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 168.91 points, or 0.7%, at 24,471.17 ahead of

a long weekend, with the market closed on Monday for the

Thanksgiving Day holiday.

For the week, the index was up 1.3%, its fifth straight

weekly gain, while it was eclipsing the previous day's record

closing high.

"We're on a coordinated global easing cycle," said Mike

Archibald, a portfolio manager at AGF Investments. "That is

quite bullish for stocks. You are going to get a better flow of

liquidity."

The S&P 500 and the Dow also hit record highs, with the

biggest boosts from financial stocks after banks reported strong

quarterly results while the latest inflation data supported

expectations for the Federal Reserve to cut interest rates for a

second time in November.

"Certainly the bank earnings out of the U.S. this morning

were fairly positive ... and that's having a knock-on effect to

the Canadian banks," Archibald said.

Financials, which account for 30% of the TSX's weighting

rose 0.8%. It included gains for major banks such as Royal Bank

of Canada ( RY ) and Bank of Montreal ( BERZ ), but a decline

of 4% for the shares of TD Bank, adding to the previous

day's losses.

Industrials were up 1.1% and technology added 1.2%. Nine of

the 10 major sectors ended higher.

The Bank of Canada is also expected to continue its easing

campaign after a downbeat business survey offset

stronger-than-expected jobs data.

Investors are betting the BoC will step up the size of its

rate cuts to 50 basis points either at its next decision on Oct.

23 or in December.