CANADA STOCKS-TSX ends higher as technology and gold mining shares climb

By Fergal Smith

TORONTO, Oct 8 (Reuters) - Canada's main stock index rose on Wednesday, led by gains for technology and metal mining shares, with the latter getting a boost from gold prices surpassing $4,000 an ounce.

The S&P/TSX Composite Index .GSPTSE ended up 150.27 points, or 0.5%, at 30,501.99, moving closer to the record closing high it posted on Monday.

"It seems to be that every day there's another news story that's good for gold," said Barry Schwartz, chief investment officer at Baskin Wealth Management.

Gold XAU= surged past the $4,000 an ounce level for the first time as broader geopolitical and economic uncertainty as well as expectations of U.S. interest rate cuts sent investors flocking to the safe-haven asset.

The materials group .GSPTTMT, which includes metal mining shares, was up 1.8%.

"For the TSX, you may not have as much upside going forward but you might see a rotation in some of the names," Schwartz said, adding that the stocks of some good businesses have lagged the market's rally, including railroads, convenience store operator Alimentation Couche-Tard Inc ATD.TO and software company Constellation Software Inc CSU.TO.

Shares of Constellation Software rose 0.8%, while e-commerce company Shopify Inc SHOP.TO added 3.3%. The technology sector .SPTTTK was up 2.9% along with gains for U.S. technology shares.

Four of the TSX's 10 major sectors ended lower.

Heavily weighted financials .SPTTFS were down 0.3% and energy .SPTTEN slipped 0.1% even as the price of oil CLc1 settled 1.3% higher at $62.55 a barrel. Traders expected a lack of progress on a Ukraine peace deal to keep sanctions in place against Moscow.

Cenovus Energy CVE.TO raised its bid for MEG Energy MEG.TO, intensifying a takeover battle for the Canadian oil producer with rival Strathcona Resources SCR.TO. MEG's shares rose 6.4%, while shares of Cenovus added 1.8% and Strathcona was up 2.4%.