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TSX ends up 0.2% at 27,878.76

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Energy adds 0.7% as ol settles 1.4% higher

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Materials group gains 2%; gold climbs

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Consumer discretionary ends 1.9% lower

(Updates at market close)

By Fergal Smith

Aug 20 (Reuters) - Canada's major stock index rose on

Wednesday as resource shares notched gains and investors awaited

the start of bank earnings season.

The S&P/TSX composite index ended up 54.88 points,

or 0.2%, at 27,878.76, but remained below last Wednesday's

record closing high.

"I think right now we're in the late-summer doldrums, said

Colin Cieszynski, chief market strategist at SIA Wealth

Management. "A lot of news is out, earnings season is now pretty

much over and in Canada we're waiting to see what the banks have

to say."

Canada's major banks are set to begin reporting quarterly

earnings on Tuesday. Financials account for 33% of the TSX's

market capitalization, making it the largest weighting by far.

The Toronto market is set to extend its record-setting run

this year and next as lower borrowing costs, along with

potentially greater clarity on U.S. tariffs, offset expected

pressure on corporate profits, according to a Reuters poll that

was published on Tuesday.

The energy sector rose 0.7% on Wednesday, as the

price of oil settled 1.4% higher at $63.21 a barrel on a

bigger-than-expected drop in U.S. crude inventories.

Gold and copper prices also climbed. The

materials group , which includes metal mining shares,

was up 2%.

Among the declining sectors was technology, which

dipped 0.4%.

"Tech is down. That's to be expected with the Nasdaq selling

off and U.S. tech stocks selling off," Cieszynski said.

Declines for high-flying U.S. tech stocks and caution ahead

of the Federal Reserve's highly anticipated Jackson Hole

symposium weighed on Wall Street, with the S&P 500 declining for

a fourth straight day.

Consumer discretionary was also a drag, falling

1.9%, with shares of Restaurant Brands International Inc ( QSR )

ending 4.2% lower.