CANADA STOCKS-TSX adds to weekly gain as investors grow immune to trade-related volatility

By Fergal Smith

Oct 24 (Reuters) - Canada's main stock index rose on Friday, led by technology shares, as investors shrugged off new trade frictions between the United States and Canada.

The S&P/TSX composite index .GSPTSE ended up 166.79 points, or 0.6%, at 30,353.07. For the week, it advanced 0.8%, marking the second straight weekly gain.

Ontario's provincial government will pause an anti-tariffs ad campaign that had prompted U.S. President Donald Trump to call off trade talks with Canada, Ontario Premier Doug Ford said. The ad used video in which former U.S. President Ronald Reagan said tariffs cause trade wars and economic disaster.

"This market looks pretty bullet proof," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth. "The trade-induced volatility has been around for more than six months now so investors are developing some kind of immunity to it."

Wall Street stocks also rallied as investors cheered cooler-than-expected inflation data and corporate earnings.

"Corporate earnings, both in the U.S. and Canada, they've been coming out extremely strong," Picardo said. "There have been concerns about a slowing economy in Canada and the U.S. but so far earnings haven't borne that out. They've been surprising to the upside quite a bit."

The technology sector .SPTTTK rose 2.6%, with electronic equipment firm Celestica CLS.TO up nearly 5%.

Heavily weighted financials .SPTTFS also made ground, adding 0.6%.

Aecon Group ARE.TO shares were up 12.3% after the company said a partnership in which it participates in has been selected to deliver a small modular reactor project in Washington State.

Materials .GSPTTMT, which includes metal mining shares, clawed back some of its weekly decline for a third straight day, rising 0.1%.

The sector posted on Tuesday its biggest drop since March 2020 as the price of gold pulled back sharply from a record high. Gold XAU= was down 1.3% on Friday.