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TSX ends down 0.3% at 27,915.99

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Technology sector falls 3.1%

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Bird Construction ( BIRDF ) tumbles 15.4% on earnings miss

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Defensive sectors notch gains

(Updates at market close)

By Fergal Smith

Aug 14 (Reuters) - Canada's main stock ended lower on

Thursday, led by declines for industrial and technology shares,

as a large increase in U.S. producer prices complicated the

inflation outlook for the Federal Reserve ahead of a major

economic gathering next week.

The S&P/TSX composite index was down 77.44 points,

or 0.3%, at 27,915.99, after posting on Wednesday a record

closing high.

"Markets are waiting to see what the central bankers have to

say at Jackson Hole next week, and we're in that lull after most

of the quarterly earnings results have come out, although not

all of them," said Brian Madden​​​​, chief investment officer at

First Avenue Investment Counsel Inc.

The Kansas City Federal Reserve's annual symposium in Jackson

Hole, Wyoming is due to be held August 21-23. The event is often

attended by the world's most influential monetary policymakers.

U.S. producer prices increased by the most in three years in

July. The data is likely to bolster concerns among Fed

policymakers that rising inflation remains a risk, intensifying

debate over the rationale for an interest rate cut next month.

The technology sector fell 3.1%, its second-straight

day of declines, and industrials ended 1.1% lower.

Bird Construction ( BIRDF ) shares tumbled 15.4% after the

company's quarterly profit missed estimates.

"While the index is down overall, there's a bit of a defensive

rotation going on within the market," Madden said.

Defensive stocks, such as telecom companies, utilities and real

estate tend to pay high dividends and be less economically

sensitive than the broader market. The communication services

index rose 0.8%, the utilities group was

up 0.2% and real estate ended 0.3% higher.

Energy also posted gains, rising 0.4%, as the

price of oil settled 2.1% higher at $63.96 a barrel ahead

of a meeting on Ukraine between U.S. President Donald Trump and

his Russian counterpart Vladimir Putin.