(Updates at market close)

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TSX ends up 0.5% at 31,660.73

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Eclipses Wednesday's record closing high

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Materials group rises 3.1% as gold prices jump

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TerraVest Industries ( TRRVF ) surges 22.3% after quarterly results

By Fergal Smith

TORONTO, Dec 11 (Reuters) - Canada's main stock index

rose on Thursday to another record high as metal prices

increased and investors cheered upbeat domestic economic data.

The S&P/TSX Composite Index ended up 169.88 points, or

0.5%, at 31,660.73, surpassing its record closing high on

Wednesday.

"Incremental data that's been coming in for the Canadian economy

recently has been quite positive, and that's helping this leg of

the rally," said Elvis Picardo, a senior portfolio manager at

Luft Financial, iA Private Wealth. "It shows that despite all

the doom and gloom about the impact of tariffs the economy is

weathering the storm quite nicely."

Canada posted a monthly international trade surplus in

September, reversing a trend of seven consecutive months of

deficits. On Wednesday, Bank of Canada Governor Tiff Macklem

said the economy was proving resilient overall to the effect of

U.S. trade measures, as the central bank left its benchmark

interest rate on hold at 2.25%.

The TSX is also "benefiting from the perception that it's a

diversified play, and if I look at year-to-date performance,

it's spread across the four big groups that make up much of the

index, unlike in the U.S., where the advance seems to be much

more concentrated in tech," Picardo said.

Financials, energy, technology and materials, which account

for 77% of the TSX's market capitalization, have all notched

gains since the start of 2025.

The materials group rose 3.1% on Thursday, and has

nearly doubled on a year-to-date basis, as gold and

copper prices climbed.

Industrials added 0.5% and financials

ended 0.4% higher.

Shares of TerraVest Industries Inc ( TRRVF ) jumped 22.3% after

the home heating products company reported fourth-quarter

results.

Still, the energy sector ended 0.7% lower as the price of

oil settled down 1.5% at $57.60 a barrel.

Technology stocks also were a drag, falling 1%, after

Oracle's quarterly results and forecast disappointed

investors and revived concerns about an AI bubble.

Shares of Empire Company ( EMLAF ) dropped 9.2% after the

company reported a decline in second-quarter earnings per share

compared to the previous year.