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TSX ends up 1.2% at 24,870.82

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Materials group adds 3.4% as copper jumps

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Magna International ( MGA ) shares climb 6.9%

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Bombardier jumps nearly 10%

(Updates at market close)

By Fergal Smith

March 5 (Reuters) - Canada's main stock index rebounded

from a seven-week low on Wednesday, led by gains for metal

mining and consumer discretionary shares, as copper prices

jumped and Canada gained some relief from hefty U.S. tariffs.

The S&P/TSX composite index ended up 298.82

points, or 1.2%, at 24,870.82, after posting on Tuesday its

lowest closing level since January 13.

President Donald Trump will exempt automakers from his

punishing 25% tariffs on Canada and Mexico for one month as long

as they comply with the terms of an existing free trade

agreement, the White House said.

Trump is also open to hearing about other products that

should be exempted from the tariffs, which took effect Tuesday,

the White House said.

"The prevailing sentiment appears to be that the U.S. will

not significantly disrupt trade with Canada given our close

economic connection," said Victor Kuntzevitsky, a portfolio

manager at Stonehaven, Wellington-Altus Private Counsel.

"Our view is that the trade dispute will get worse before it

will get better."

The downturn in Canada's services economy deepened in

February as firms avoided committing to new business in

anticipation of a trade war, S&P Global's Canada services PMI

data showed.

The materials group, which includes fertilizer companies and

metal mining shares, climbed 3.4% as China's move to unlock more

fiscal stimulus and a proposed 500 billion euro infrastructure

fund in Germany contributed to higher copper prices.

The consumer discretionary sector added 2%, helped by gains

for auto parts companies. Magna International Inc ( MGA )

climbed 6.9% and Linamar Corp ( LIMAF ) ended 4.1% higher.

Technology rose 1.8% and industrials were up 1.2% higher.

Shares of business aircraft manufacturer Bombardier Inc ( BDRPF )

jumped nearly 10%.

Energy was the only major sector to lose ground, falling

0.8%, as the price of oil settled 2.9% lower at $66.31 a barrel.