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TSX ends up 5.4% at 23,727.03

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Posts biggest advance since March 2020

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Technology jumps 10.8% with Shopify ( SHOP ) up 17.5%

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Energy adds 8.5% as oil settles 4.65% higher

(Updates at market close)

By Fergal Smith

April 9 (Reuters) - Canada's main stock index on

Wednesday surged by the most in five years, led by gains for

resource and technology shares, as investors cheered a sudden

reversal by the U.S. on tariffs.

Toronto Stock Exchange's S&P/TSX composite index

ended up 1,220.13 points, or 5.4%, at 23,727.03, its biggest

advance since March 2020, shortly after the start of the

pandemic.

It follows four straight days of steep declines.

Wall Street also rebounded sharply as U.S. President Donald

Trump said he would temporarily lower new tariffs on many

countries, even as he raised them on imports from China.

The market "skyrocketed" as soon as the reversal on tariffs

was announced, said Brian Madden​​​​, chief investment officer

at First Avenue Investment Counsel.

"Probably, the administration has gotten a smack on the

knuckles here by the market and by some of their base."

The technology sector rose 10.8%, with shares of e-commerce

company Shopify ( SHOP ) jumping 17.5%.

"The things that are up the most are the things that were

down the most in the de-risking period of time," Madden said.

Energy rallied 8.5% as the price of oil rebounded

from a four-year low to settle 4.65% higher at $62.35 a barrel.

Canadian Prime Minister Mark Carney said if his ruling

Liberals win the April 28 election, the government would work to

develop both clean energy and the lowest-carbon conventional

energy.

The materials group, which includes fertilizer companies and

metal mining shares, added 6.6% as gold and copper

prices climbed.

Shares of clothing retailer Aritzia ( ATZAF ) ended 18.6%

higher, extending its recovery from a 10-month low on Friday.