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TSX ends up 0.5% at 25,328.36

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Materials group adds 1.6%, tech gains 1.2%

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National Bank falls 5.5% after earnings report

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Energy falls 0.5%; oil hits 2-month low

(Updates at market close)

By Fergal Smith

Feb 26 (Reuters) - Canada's main stock index rose on

Wednesday as technology and metal mining shares notched gains,

despite confusion around the timing of a deadline for U.S.

tariffs on Canadian goods.

The S&P/TSX composite index ended up 124.38

points, or 0.5%, at 25,328.36, its third straight day of gains.

U.S. President Donald Trump raised hopes for another

month-long pause on 25% tariffs on imports from Mexico and

Canada, saying they could take effect on April 2.

A White House official, however, said Trump's previous March

4 deadline for the import duties remained in effect.

"Even though the tariffs could be a bloodbath for Canada,

the largest-capitalization stocks on the TSX aren't that exposed

to tariffs," said Barry Schwartz, chief investment officer at

Baskin Wealth.

Financial, telecom, real estate, energy and materials shares

account for roughly two-thirds of the TSX's weighting, and those

sectors would likely escape the direct impact of tariffs or

benefit from carve-outs.

"There is no better index for safe havens than the TSX. It's

dominated by mature dividend-paying companies that are not

exposed to the high-growth areas," Schwartz said.

The TSX is set to reach a record high by the end of 2025,

helped by lower borrowing costs, a Reuters poll found.

The Bank of Canada has cut its benchmark rate by two

percentage points since June to a level of 3%.

The materials group, which includes fertilizer companies and

metal mining shares, rose 1.6%.

Technology added 1.2% and heavily weighted financials ended

0.2% higher.

National Bank of Canada ( NTIOF ) set aside

larger-than-expected reserves for bad loans, signaling

challenges ahead even as strong income from dealmaking helped

deliver a profit beat. The company's shares ended 5.5% lower.

Energy was a drag, falling 0.5%, as the price of oil settled

at a two-month low of $68.62 a barrel.