(Updates to market close)

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TSX ends up 0.1% at 30,275.06

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Consumer discretionary rises 1.1%

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Magna climbs to highest since April 2024

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Financials add 0.6%

By Fergal Smith

Nov 3 (Reuters) - Canada's main stock index ended higher

on Monday, led by consumer discretionary shares, but gains were

limited as investors awaited clearer signs that corporate

earnings will continue to grow despite a domestic economic

slowdown.

The S&P/TSX composite index ended up 14.32 points,

or 0.1%, at 30,275.06. The market has been in a holding pattern

since posting a record high in mid-October.

"Investors just want confidence that the trend is going to

continue," said Philip Petursson, chief investment strategist at

IG Wealth Management.

"The expectation is that earnings growth will continue to be

positive. ... As long as the guidance coming from companies

continues to support that I think these markets can continue to

find higher levels."

The downturn in Canada's manufacturing sector eased in October

as output and new orders, which have been held back by trade

uncertainty, declined at a slower pace. The S&P Global Canada

Manufacturing Purchasing Managers' Index (PMI) rose to 49.6 last

month from 47.7 in September, posting its highest level since

January.

The consumer discretionary sector rose 1.1%, with the shares of

auto parts supplier Magna International ( MGA ) rising 4.5% to

the highest closing level since April 2024. On Friday, the

company raised its annual sales forecast.

Heavily weighted financials added 0.6% and energy was up 0.3%.

The price of oil settled 0.1% higher at $61.05 a barrel

as the market balanced the latest OPEC+ supply increase with the

group's plans to pause output increases in the first quarter of

2026.

Activist fund Palliser Capital has intensified pressure on Rio

Tinto to mount a "now or never" counterbid for Teck Resources, a

letter to the board seen by Reuters shows. Shares of Teck were

down 0.3%, while the materials group, which includes metal

mining shares, added 0.2%.

Five of the 10 major sectors ended lower, including consumer

staples, which was down 0.6%.