*

TSX ends up 0.5%, at 24,923.01

*

Eclipses Thursday's record closing high

*

Shopify ( SHOP ) jumps 21.5% on upbeat sales growth forecast

*

Materials sector falls 1.5%

(Updates at market close)

By Fergal Smith

Nov 12 (Reuters) - Canada's main stock index rose to a

record high on Tuesday as gains for technology shares, led by

e-commerce company Shopify Inc ( SHOP ), offset pressure on

resource shares due to a stronger U.S. dollar.

The S&P/TSX composite index ended up 133.73

points, or 0.5%, at 24,923.01, eclipsing the record closing high

it notched last Thursday.

"Shopify ( SHOP ) has been a great performer. Expensive as can be,

but yet the market doesn't seem to care based on valuation,"

said Allan Small, senior investment advisor of the Allan Small

Financial Group with iA Private Wealth.

Shares of Shopify ( SHOP ) jumped 21.4% after the company forecast

fourth-quarter sales growth above estimates as a focus on

employing AI-powered tools in its e-commerce services pulled in

more merchants ahead of the crucial holiday season. The firm

also topped market expectations for third-quarter revenue.

The technology sector was up 6.4%, one of only two major

sectors to notch gains. The other was consumer staples, which

added 0.9%.

"A strong dollar in the U.S., interest rates higher in the

U.S., these are things that don't usually bode well for the

Canadian markets based on commodities and oil," Small said.

The U.S. dollar climbed to a six-month high against a

basket of major currencies, while the U.S. 10-year yield was up

12 basis points at about 4.43%.

The materials sector fell 1.5% as gold and copper prices

fell. Energy was also down, losing 1.1%. The price of oil

settled 0.1% higher after two days of sharp declines.