The TSX ended the week on a positive note, moving 46.45 points higher to 11,714.21 after climbing back from an earlier slip into negative territory, as the market took in European bank stress test results and Canadian consumer price data.

The Committee of European Banking Supervisors released the results of the 2010 EU-wide stress testing exercise Friday afternoon, saying that as a result of an adverse scenario after a sovereign shock, seven out of 91 banks sampled would see their Tier 1 capital ratios fall below 6%.

Elsewhere, Statistics Canada said that consumer prices climbed 1% in the year to June, following a 1.4% increase in May.

Several TSX subsectors ended higher on Friday, including metals and mining, which climbed 1.56% and financials, which added 0.36%. The TSX Venture gained 6.56 points to end the day at 1,394.98.

Meanwhile, crude for September delivery fell 32 cents to $78.98 a barrel and gold for August delivery gave back $7.80 to $1,187.80 an ounce.

On the TSX, Harry Winston Diamond Corporation (TSX: T-HW) said that it has reached an agreement in principle to purchase its 9% indirect interest in the Diavik joint venture from Kinross Gold (TSX: T-K) for aggregate consideration of approximately $220 million, increasing its ownership in the Diavik joint venture to 40%.

Kinross also announced that it has reached an agreement to sell its holding of 15 million common shares of Harry Winston to a group of financial institutions through a block trade transaction. As a result, Kinross' resulting direct ownership interest in Harry Winston will be approximately 8.5%. Shares of Harry Winston slid $1.55 to $13.00, while Kinross moved six cents higher.