The Toronto stock market was higher Friday amid general relief over a plan to lower eurozone borrowing costs and a growing conviction that a poor U.S. jobs report will persuade the Federal Reserve to launch further stimulus.

The S&P/TSX composite index rose 69.08 points to 12,208.81 amid a solid Canadian employment report for August while the TSX Venture Exchange climbed 12.42 points to 1,270.71.

Rising commodities also helped push the Canadian dollar up 0.35 of a cent to 102.1 cents US as Statistics Canada said the economy created 34,300 jobs in August. That was much better than the approximately 10,000 new jobs that economists had expected.

The unemployment rate remained unchanged at 7.3 per cent.