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TSX ends up 1.7%, at 30,353.61

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Materials group gains 3.2% as gold hits record high

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Orla Mining ( ORLA ) shares jump 19.6%

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Financials end 1.8% higher

(Updates at market close)

By Fergal Smith

TORONTO, Oct 14 (Reuters) - Canada's main stock index

rebounded on Tuesday as the materials sector benefited from

recent metal price increases and investors cheered U.S. bank

earnings results.

The S&P/TSX composite index ended up 502.72

points, or 1.7%, at 30,353.61, after posting on Friday its

biggest decline in six months. The market was closed on Monday

for the Thanksgiving Day holiday.

"This is really playing catch-up with the big move in the

commodities we saw yesterday in the U.S.," said Greg Taylor,

chief investment officer at PenderFund Capital Management.

Both copper and gold posted gains on Monday. The

latter notched a record high on Tuesday above the $4,100 level,

lifted by expectations of a rate cut this month by the U.S.

Federal Reserve and an investor flight to safety after a

flare-up in trade tensions between Washington and Beijing.

The materials group, which includes metal mining

shares, was up 3.2%. Orla Mining Ltd ( ORLA ) shares jumped

19.6% after the company provided an operational update for the

third quarter.

U.S. stocks ended mixed as investors digested mostly

positive third-quarter results from big U.S. banks.

"They came in probably a little better than feared and

(provide) a decent read through for the Canadian banks," Taylor

said.

Heavily weighted financials rose 1.8%, consumer

discretionary was up 2.1% and technology

added 2%.

Shares of uranium producer Energy Fuels Inc soared

29.9%. Still, energy was the only one of 10 major sectors to

lose ground, dipping 0.3%.

U.S. crude futures settled 1.3% lower at $58.70 a

barrel as the International Energy Agency warned of a huge

supply glut in 2026, and as U.S.-China trade tensions persisted.