(Updates with morning prices)

By Nikhil Sharma

March 14 (Reuters) - Toronto's main stock index rose 1%

on Friday ahead of Mark Carney's appointment as prime minister

of Canada, while still set for a weekly loss amid growth

concerns from an ongoing trade war.

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

was up 1.01% at 24,446.46, with a majority of sectors

clocking gains.

Carney, a former central banker and political novice, has

projected himself as the best person to take on U.S. President

Donald Trump, who has repeatedly discussed annexing Canada and

escalating tariff wars, potentially risking a recession for

Canadians.

TSX's technology index led the gains, rising 2.3%,

boosted by a 5.2% surge in e-commerce firm Shopify ( SHOP ).

Financials with the heaviest weighting on the

index, jumped 0.9%, with a similar move seen in industrials

.

Wall Street also became the source of optimism, with the

benchmark S&P 500 index soaring more than 1% on Friday

following a selloff earlier in the week.

Despite the day's gains, the Canadian benchmark index was

down 2.2% for the week so far, as Trump's erratic tariff

onslaught and retaliations from Canada and the European Union

fueled risk aversion in global markets.

"The uncertainty and confusion that is being generated and

emanating from Washington is having ripple effects through the

Canadian and U.S. markets. Tariffs are obviously front and

centre," said Brian Madden, chief investment officer at First

Avenue Investment Counsel.

Oil prices were stable on Friday after a more than 1% loss

in the previous session.

Bucking the trend, capped communications lost

1.2%.

In corporate news, Mattr Corp ( MTTRF ) climbed 10.3% after

the material technology company reported its quarterly results.

On the economic front, Canadian wholesale trade grew by 1.2%

in January from December, driven by growth in motor vehicles and

parts, as well as the building materials and supplies

subsectors.