CANADA STOCKS-TSX hits record high as investors cheer economic resilience

By Fergal Smith

July 17 (Reuters) - Canada's main stock index rose to a record high on Thursday, helped by gains for financial and technology shares, as Alimentation Couche-Tard abandoned a major takeover bid and U.S. data pointed to economic resilience.

The S&P/TSX composite index .GSPTSE ended up 233.96 points, or 0.86%, at 27,386.93, surpassing Monday's record closing high.

"Market strength has been unexpected and pretty exceptional, and that can be attributed to data that shows both Canada and the U.S. are holding up despite ongoing tariff threats," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.

U.S. retail sales rebounded more than expected in June, but some of the increase likely reflected higher prices for some goods exposed to tariffs.

Data on Friday showed Canada's economy added many more jobs than expected in June, and the unemployment rate surprisingly dipped to 6.9%.

"This rally has been relentless - hardly any pullbacks," Picardo said. "The fear of missing out currently dominates the possibility that you may have some downside going into the volatile summer months."

The technology sector .SPTTTK rose 2.53%, with e-commerce company Shopify Inc SHOP.TO adding 6.43%. Financials .SPTTFS, which account for 33% of the TSX's weighting, was up 1.12%.

Alimentation Couche-Tard ATD.TO pulled its $46 billion bid to buy 7-Eleven's parent company Seven & i Holdings 3382.T, saying the Japanese retailer did not engage constructively on the deal. Shares of the convenience store operator jumped 8.2%.

The materials group .GSPTTMT, which includes fertilizer companies and metal mining shares, was a drag. It fell 0.11% as gold XAU= and copper HGc1 prices dipped.