(Updates at market close)
* TSX ends up 0.7% at 34,102.36
* Posts highest closing level since March 2
* Tech adds 2.8% with Keel Infrastructure up 21.4%
* Materials group gains 1.2% as gold rises
By Fergal Smith
TORONTO, April 14 (Reuters) - Canada's main stock index
rose on Tuesday, led by technology and metal mining shares, as a
drop in oil prices helped investors look past recent
geopolitical uncertainty.
The Toronto Stock Exchange's S&P/TSX Composite Index
ended up 223.12 points, or 0.7%, at 34,102.36, marking
the highest closing level since March 2, when the index posted a
record high.
"This is the definition of 'climbing the wall of worry,'"
said Greg Taylor, chief investment officer at PenderFund Capital
Management, referring to the ability of stocks to rise despite
challenges to the outlook.
"There's so much fear out there, and it seems like the
market is shrugging it off. We had a big reversal in oil prices,
and that's gotten a lot of people coming back to risk assets,"
Taylor said.
The price of oil settled 7.9% lower at $91.28 a barrel on
hopes that Iran will resume talks with the United States to end
the conflict, which has shut the Strait of Hormuz.
Talks to end the Iran war could resume in Pakistan over the next
two days, U.S. President Donald Trump said.
In Canada, Prime Minister Mark Carney announced a temporary
suspension of a fuel tax one day after his Liberal Party swept
three special elections to secure a parliamentary majority.
"We've got some negativity on the energy stocks but that's
being offset by some strength in these other sectors," Taylor
said.
Technology added 2.8%, with shares of data center
company Keel Infrastructure Corp up 21.4%.
The materials group, which includes metal mining
shares, ended 1.2% higher. It was helped by a 2.2% advance in
the price of gold as reduced safe-haven demand and
encouraging U.S. producer price data weighed on the U.S. dollar.
Heavily weighted financials gained 1.2% as
investors assessed U.S. bank earnings.
Shares of MDA Space ( MDA ) rose 7.1% to the highest level
since August 2025 after Amazon.com ( AMZN ) said it will acquire
Globalstar ( GSAT ). MDA is the primary contractor for
Globalstar's ( GSAT ) next-generation constellation.
Energy was the biggest decliner, falling 2.4%.