(Adds investor quotes and details throughout, updates prices)
* TSX ends up 57.27 points, or 0.3%, at 20,985.37
* Technology gains 1.1%; industrials end 0.7% higher
* Shopify Inc advances 2.9%
* Denison Mines Corp jumps 12.8%
TORONTO, Oct 18 (Reuters) - Canada's main stock index
climbed to a record high on Monday as investors scooped up
high-flying technology companies, switching out of more
defensive stocks such as utilities and telecommunications.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 57.27 points, or 0.3%, at 20,985.37, a record
The S&P 500 and the Nasdaq Composite also
closed higher as investors appeared optimistic about the
third-quarter earnings season.
There is "a little bit of rotation back to some of the
secular growth winners," said Mike Archibald, a portfolio
manager at AGF Investments.
"Shopify, Constellation are both having a good day. That's
moving the IT (information technology) space, which is the big
driver of the market."
Shares of cloud-based commerce platform company Shopify Inc
, which has the largest market capitalization on the
TSX, rose 2.9%, while Constellation Software Inc was up
Information technology ended up 1.1%, while industrials
climbed 0.7% and the heavily-weighed financial services group
ended up 0.2%.
After snapping a seven-month winning streak in September,
the Canadian equity index has gained 4.6% so far this month,
aided by strength in commodity prices.
Energy shares gave back some recent gains on Monday,
declining 1.2%. Utilities were down 0.2%, while Rogers
Communications Inc and BCE Inc, two of
Canada's biggest telecom companies, fell 0.5% and 0.4%
Some of the Toronto market's biggest gainers were uranium
producers, with Cameco Corp advancing 5.9% and Denison
Mines Corp jumping 12.8%.
(Reporting by Fergal Smith; Additional reporting by Amal S in
Editing by Sandra Maler)