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TSX ends down 0.1% at 22,259.16

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Tech sector falls as Shopify ( SHOP ) tumbles 18.5%

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Financials rise 0.9%

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Energy adds 0.5%; oil settles up 0.8%

(Updates at market close)

By Fergal Smith

May 8 (Reuters) - Canada's main stock index fell on

Wednesday as Shopify's ( SHOP ) downbeat forecast for revenue growth

hammered technology shares and investors took stock of recent

gains for the market that had taken it within striking distance

of a record high.

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

ended down 31.46 points, or 0.1%, at 22,259.16. It had

closed higher in the previous five sessions on rising optimism

that the Federal Reserve's next move would be to cut interest

rates.

"It is just some rebalancing after the move higher over the

last few days," said Elvis Picardo, portfolio manager at Luft

Financial, iA Private Wealth.

"Big picture, you are seeing individual stocks very much

impacted by their earnings numbers. The bar's been set fairly

high so for companies to beat you need to not just provide good

numbers, you also have to give a rosy outlook."

The information technology sector dropped 4.2%,

pulled down by an 18.5% decline in the shares of Shopify Inc ( SHOP )

after the e-commerce company forecast its slowest

quarterly revenue growth in two years.

It was the biggest percentage decline for Shopify ( SHOP ) since

going public in May 2015.

Most other sectors ended higher, with heavily-weighted

financials rising 0.9% and energy adding

0.5%. The price of oil settled up 0.8% at $78.99 a barrel after

U.S. oil storage data showed a larger-than-expected draw in

crude stockpiles.

Stella-Jones Inc ( STLJF ) was one of the top performers. Its

shares climbed 10.9% after the forestry firm reported

first-quarter results that beat analysts' estimates.