* TSX ends up 0.5% at 35,505.84

* Materials group adds 3.1% as gold rallies

* Bausch Health ( BHC ) jumps 28.5% after earnings beat

* Industrials lose 2.8%; tech ends 1.4% lower

(Updates at market close)

By Fergal Smith

TORONTO, July 30 (Reuters) - Canada's main stock index rose

on Thursday as higher metal prices boosted mining shares,

offsetting declines for technology and industrials.

The Toronto Stock Exchange's S&P/TSX Composite index

ended up 172.06 points, or 0.5%, at 35,505.84,

recouping some of Wednesday's decline.

* Wall Street posted sharper gains, with chip stocks soaring

after Microsoft gave a stellar forecast that eased fears about

massive spending on AI infrastructure.

* The materials group, which includes metal

mining shares, rose 3.1%. Gold and copper prices

climbed as traders reduced bets on Federal Reserve interest rate

hikes one day after Chair Kevin Warsh offered little clarity on

policy.

* "We continue to expect the Fed to be patient as it awaits

more inflation data," said Ellen Zentner, chief economic

strategist for Morgan Stanley Wealth Management.

* Heavily weighted financials added 1.2% and

energy ended 1.2% higher. The price of oil

settled 1% lower at $83.59 a barrel as traders digested proposed

plans for a Saudi Arabia-led maritime coalition to boost defense

cooperation around the Red Sea.

* Shares of Bausch Health ( BHC ) jumped 28.5% after the

pharmaceutical company beat second-quarter earnings estimates.

* Industrials were a drag, falling 2.8%. They

included declines for railroad shares, while shares of content

and technology company Thomson Reuters ( TMSOF ) fell 7.3%,

giving back some recent gains.

* Technology was down 1.4%, pressured by a 12.8%

drop in the shares of Lightspeed Commerce ( LSPD ) after the

payments software firm missed first-quarter profit estimates.

* E-commerce company Shopify Inc. fell 5.6%, but data center

developer Keel Infrastructure recouped some recent declines,

jumping 26.7%.

* Bombardier reported a turnaround in

second-quarter free cash flow above analysts' expectations.

Still, its shares ended 7.9% lower as the company delivered

fewer private jets and contended with supply chain challenges.