(Updated at 10:12 a.m. ET/ 10:12 GMT)

By Nikhil Sharma

Nov 11 (Reuters) - Canada's main stock index hit a

three-week high on Monday, led by technology and financial

shares, as markets continued to rally on Donald Trump's

reelection in the United States.

The S&P/TSX composite index was up 107.4 points,

or 0.43%, at 24,866.8, hovering near a record high last hit on

Oct. 21.

The technology sector led the overall gains with a

1.7% jump, buoyed by blockchain-farm operator Bitfarms's ( BITF ) shares

that climbed 10.5% after Bitcoin soared to a

record high above $82,000.

Heavyweight financials and rate-sensitive

utilities shares were also among the top gainers,

rising 1.1% each.

"This is just a continuation of the Trump rally," said Ian

Chong, portfolio manager at First Avenue Investment Counsel.

There is "still a lot of optimism regarding economic growth

with Trump's pro-growth policies."

Trump's victory kicked off a global stock market rally last

week over market anticipation of equity-boosting tax cuts and

looser regulations by the new administration.

However, Canada could be impacted by Trump's proposed 10%

tariff on imports as it sends about 75% of its exports to the

United States, including oil.

The materials sector fell 3.2% after gold prices

declined, dragged by a firmer dollar and increased risk appetite

as markets expect the Federal Reserve to adopt a cautious policy

easing approach under Trump's administration.

Copper prices slipped after new bank lending in China fell

more than expected in October.

Investors this week will focus on the U.S. consumer price

index that could provide more clues about the Fed's monetary

policy move at its December meeting.

In Canada, quarterly earnings from Shopify ( SHOP ) will

grab market attention on Tuesday. The e-commerce services giant

was the second-biggest gainer on the index, having risen 3.5%.

Meanwhile, the Montreal Longshoremen's Union rejected the

final offer made for a new labour contract, leading to a lockout

declaration.