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TSX ends up 0.3% at 23,348.97

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Moves past Friday's record closing high

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Energy rallies 1.6%; oil settles up 3.5%

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Technology falls 0.6%

(Updates at market close)

By Fergal Smith

Aug 26 (Reuters) - Canada's main stock rose to an

all-time high on Monday as a jump in oil prices boosted energy

shares, and ahead of quarterly earnings this week from five of

Canada's six major banks.

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

ended up 62.89 points, or 0.3%, at 23,348.97.

It eclipsed the record closing high posted on Friday when

Federal Reserve Chair Jerome Powell endorsed the start of U.S.

interest rate cuts.

"It seems like more of a rotation toward commodities and out

of some of the technology areas and that's good for the TSX,"

said Greg Taylor, a portfolio manager at Purpose Investments.

The energy sector climbed 1.6% as the price of oil settled

3.5% higher at $77.42 a barrel, with production cuts in Libya

adding to supply concerns. The materials group, which includes

metal miners and fertilizer companies, was up 0.2%.

"The rest of the market is just waiting for the banks,"

Taylor said.

Bank of Nova Scotia ( BNS ) and Bank of Montreal ( BERZ )

are due to report on Tuesday, followed by Royal Bank of Canada ( RY )

and National Bank of Canada ( NTIOF ) on Wednesday and

Canadian Imperial Bank of Commerce on Thursday.

Last Thursday, Toronto-Dominion Bank ( MLWIQXX ) reported its

first loss in over two decades after setting aside an extra $2.6

billion to cover expected fines from U.S. regulators.

Just two of 10 major sectors posted declines, including

technology, which fell 0.6% in sympathy with declines for U.S.

tech stocks.

A decision obliging more than 9,000 Canadian rail workers to

stay on the job is a win for the railways and could impact

bargaining in other federally regulated sectors like aviation,

the head of a Canadian rail workers' union told Reuters.

Shares of Canadian National Railway Co ( CNI ) and Canadian

Pacific Kansas City Ltd ( CP ) both ended higher. Air Canada ( ACDVF )

added 0.5%.