CANADA STOCKS-TSX touches record high on financials boost

By Utkarsh Hathi

Jan 15 (Reuters) - Canada's main stock index hit a record on Thursday, as the financial sector mirrored gains in Wall Street banks, even as falling oil and precious metal prices dragged down commodity-linked shares.

The S&P/TSX Composite Index .GSPTSE was up 0.35% at 33,029.56 points as of 10:53 a.m. ET.

U.S. stock indexes were lifted primarily by a tech-led rally after chipmaker TSMC's better-than-expected quarterly results, while robust earnings from banking giants Morgan Stanley and Goldman Sachs provided an additional boost.

TSX's financial stocks .SPTTFS, which have the heaviest weighting on the main index, advanced 0.7%, while technology shares .SPTTTK were up 0.4%.

The industrials sub-index .GSPTTIN also rose 0.9%, boosted by Bombardier's BBDb.TO 2.8% jump after the business aircraft manufacturer announced a new $100 million manufacturing center in Dorval, Montreal.

Energy stocks .SPTTEN lost 0.8% as oil prices LCOc1, CLc1 plunged on Thursday, snapping a five-day rally after U.S. President Donald Trump said the killing of protesters in Iran was ending, easing concerns over possible U.S. military intervention and supply disruptions.

The materials index .GSPTTMT, which includes precious metal miners, dipped 0.2% as gold and silver prices pulled back from Wednesday's record highs, even though analysts believe demand will persist. GOL/

"The theme this year has been outperformance from Canadian equities because resources have continued to perform well," said Steve Palmer, chief investment officer at AlphaNorth Asset Management

"Investor demand is going to continue because of the uncertain situation in the world now and a move away from the US dollar."

On the political front, Canadian Prime Minister Carney hailed improving ties with China as well as President Xi Jinping's leadership, declaring that the two nations were charting a new course in cooperation at a time of global division and disorder.

Canada has intensified efforts to diversify its export markets after Washington imposed tariffs on it last year.