By Twesha Dikshit and Avinash P

Dec 12 (Reuters) - Canada's benchmark stock index hit a

fresh intraday peak on Friday, with cannabis and mining shares

leading gains, ending a week filled with central bank meetings.

The TSX index was up 0.2% at 31,731.35 points by

09:38 a.m. ET, and set for a weekly gain. The commodity-heavy

index is up 28% for the year and has outperformed its Wall

Street peers due to a stellar performance from its mining and

materials shares.

"Global stocks are trading at record highs despite ongoing

technology valuation doubts," said Bob Savage, head of markets

macro strategy at BNY.

"The ongoing themes of equity sector rotation, a better 2026

outlook aided by Fed easing, and tame inflation leave hopes that

doing nothing will keep the holiday rally intact."

Healthcare index gained the most on Friday at

5.4%, with the shares of cannabis firm Curaleaf ( CURLF )

soaring 26%.

Shares of cannabis companies rose after a Washington Post

report said U.S. President Donald Trump is expected to push the

government to dramatically loosen federal restrictions on

marijuana. Canada's Canopy Growth ( CGC ) and Tilray Brands ( TLRY )

rose 22% and 33%, respectively.

Gold and mining indexes rose, gaining

1.9% and 1.6%, respectively, with silver prices hitting a

new record, while gold prices hit a seven-week high and

copper eased below its record peak.

On the flip side, technology shares fell the most

at 2.3% with electronics equipment company Celestica ( CLS )

dropping 7.4% and e-commerce company Shopify ( SHOP ) falling

1.5%.

Energy shares also fell 0.3%, tracking oil prices.

Investor sentiment this week was buoyed by a widely

anticipated 25 basis points cut from the U.S. Federal Reserve,

while the Bank of Canada kept rates on hold, pointing to a

resilient economy.

On Thursday, Canada posted a monthly international trade

surplus in September, reversing a trend of seven consecutive

months of deficits.