CANADA STOCKS-TSX hits near four-week high as investors make post-election bets

By Fergal Smith

April 29 (Reuters) - Canada's main stock index rose to a near four-week high on Tuesday, benefiting from recent upbeat U.S. corporate earnings and investor relief that the uncertainty of the Canadian general election is now in the rear view mirror.

Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 75.89, or 0.3%, at 24,874.48, its highest closing level since April 2.

"It's more about the U.S. earnings that are coming out and we're also getting a bit of relief post the election in Canada," said Sid Mokhtari, chief market technician for CIBC Capital Markets.

Wall Street closed solidly in positive territory as investors assessed the latest round of corporate earnings and weighed prospects of an easing of U.S. auto tariffs.

Canadian Prime Minister Mark Carney's Liberal Party, which retained power in Monday's election, has promised to support the economy in a trade war through increased spending, including on infrastructure.

The prospect of increased infrastructure spending helps industrials, while recent market volatility could boost banks and other financials that act as trading intermediaries, Mokhtari said.

Both heavily weighted financials and consumer discretionary, which includes auto parts companies, added 0.9%.

Shares of Magna International Inc MG.TO ended 2.2% higher.

Energy was a drag, falling 0.8%, as the price of oil CLc1 settled 2.6% lower at $60.42 a barrel.

Gold XAU= and copper HGc1 prices also declined. The materials group, which includes metal mining shares, was down 0.8%.