(Updates to market close)

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TSX ends up 1.5% at 30,604.35

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Technology sector advances 5.5%

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Materials group adds 5.1% as gold rallies

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Barrick Mining ( B ) climbs to record high

By Avinash P and Fergal Smith

Nov 24 (Reuters) - Canada's main stock index rose 1.5%

on Monday, helped by gains for technology and gold mining

shares, as rising bets on a U.S. interest rate cut lifted

investor sentiment.

The S&P/TSX composite index ended up 443.70 points

at 30,604.35, its highest closing level since November 12 when

it posted a record closing high.

Wall Street stocks also advanced, extending Friday's rally,

as increased odds that the Federal Reserve will lower its key

Fed funds target rate in December helped investors look past

concerns over inflated tech valuations.

The week marks the beginning of the U.S. holiday shopping

season, starting with Thanksgiving on Thursday and extending

through the retail bonanzas of Black Friday and Cyber Monday.

"This is seasonally one of the strongest weeks for equities

in the U.S. and there's a correlation to Canada," said Matt

Skipp, president of SW8 Asset Management.

"You've had a pretty big price correction into this week. So

I'm expecting a stronger week."

The materials group, which includes metal mining

shares, rose 5.1% as the price of gold climbed.

Barrick Mining Corp ( B ) said it had reached an

agreement with Mali's government to resolve all their disputes

over the Loulo-Gounkoto gold mining complex after two years. Its

shares climbed 8.5% to eclipse the record closing high from

December 2010.

Technology advanced 5.5%, with shares of

electronics equipment company Celestica Inc ( CLS ) up nearly

15%.

Heavily weighted financials added 0.5% and energy

was up 0.2%. The price of oil settled 1.3%

higher at $58.84 a barrel amid mounting doubts about whether

Russia will get a peace deal with Ukraine that will boost

Moscow's oil exports.

Among the sectors that lost ground was consumer staples

, which fell 1.6%.