CANADA STOCKS-Toronto stock market ends higher as oil and gold prices climb

By Fergal Smith

Aug 20 (Reuters) - Canada's major stock index rose on Wednesday as resource shares notched gains and investors awaited the start of bank earnings season.

The S&P/TSX composite index .GSPTSE ended up 54.88 points, or 0.2%, at 27,878.76, but remained below last Wednesday's record closing high.

"I think right now we're in the late-summer doldrums, said Colin Cieszynski, chief market strategist at SIA Wealth Management. "A lot of news is out, earnings season is now pretty much over and in Canada we're waiting to see what the banks have to say."

Canada's major banks are set to begin reporting quarterly earnings on Tuesday. Financials account for 33% of the TSX's market capitalization, making it the largest weighting by far.

The Toronto market is set to extend its record-setting run this year and next as lower borrowing costs, along with potentially greater clarity on U.S. tariffs, offset expected pressure on corporate profits, according to a Reuters poll that was published on Tuesday.

The energy sector .SPTTEN rose 0.7% on Wednesday, as the price of oil CLc1 settled 1.4% higher at $63.21 a barrel on a bigger-than-expected drop in U.S. crude inventories.

Gold XAU= and copper HGc1 prices also climbed. The materials group .GSPTTMT, which includes metal mining shares, was up 2%.

Among the declining sectors was technology .SPTTTK, which dipped 0.4%.

"Tech is down. That's to be expected with the Nasdaq selling off and U.S. tech stocks selling off," Cieszynski said.

Declines for high-flying U.S. tech stocks and caution ahead of the Federal Reserve's highly anticipated Jackson Hole symposium weighed on Wall Street, with the S&P 500 declining for a fourth straight day.

Consumer discretionary .GSPTTCD was also a drag, falling 1.9%, with shares of Restaurant Brands International Inc QSR.TO ending 4.2% lower.