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TSX ends up 0.1% at 26,869.66

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Eclipses Monday's record closing high

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Energy rises 1.4% as oil settles 3.1% higher

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Materials group avances 1%

(Updates at market close)

By Fergal Smith

July 2 (Reuters) - Canada's main stock index edged up to

a new record high on Wednesday, helped by gains for resource and

consumer discretionary shares, as investors continued to look

past global economic uncertainty and weighed prospects for

Federal Reserve interest rate cuts.

The S&P/TSX composite index ended up 12.55 points,

or 0.1%, at 26,869.66, eclipsing the record closing high it

posted on Monday, before the Canada Day holiday.

"The market continues to climb the wall of worry," said Greg

Taylor, CFA, chief investment officer at PenderFund Capital

Management Ltd. "There is a lot of fear out there but I think

that kept a lot of people out of the market."

U.S. private payrolls fell for the first time in more than

two years in June as economic uncertainty hampered hiring, but

low layoffs continued to anchor the labor market.

"The U.S. ADP number came in light and that's gotten more

people excited that there might be more rate cuts coming sooner

in the U.S.," Taylor said.

Wall Street also ended higher, helped by news of a trade

agreement between the U.S. and Vietnam, while domestic data

showed signs of trade uncertainty hurting the economy. The S&P

Global Canada Manufacturing Purchasing Managers' Index edged

down to 45.6 in June from 46.1 in May.

The energy sector rose 1.4% as the price of oil settled 3.1%

higher $67.45 a barrel.

Gold also rose, which helped lift metal mining shares. The

materials group was up 1%.

Consumer discretionary added 2.4%, helped by a gain of 7.8%

for the shares of autoparts manufacturer Magna International Inc ( MGA )

.

Bombardier Inc ( BDRPF ) was another standout, with its

shares jumping 21.4%. The company said on Monday it had secured

an order for 50 Challenger and Global aircraft.

Consumer staples was a drag, falling 1.5% and technology

ended 0.5% lower.