(Adds investor quotes and details throughout; updates prices)
* TSX ends up 242.54 points, or 1.16%, at 21,197.53
* Shopify gains 7%; Suncor jumps 13.4%
* Energy ends 4.6% higher; technology advances 3.1%
TORONTO, Oct 28 (Reuters) - Canada's main stock index
rallied on Thursday as corporate earnings boosted the shares of
energy and technology stocks, with the index rebounding after
two days of declines.
The Toronto Stock Exchange's S&P/TSX composite index
ended up 242.54 points, or 1.16%, at 21,197.53, its
biggest gain since June 1.
The index lost ground on Tuesday and Wednesday after
notching on Monday a record closing high of 21,284.84.
"The biggest driver of the move today has been the strong
results from Suncor and Shopify," said Bryden Teich, portfolio
manager at Avenue Investment Management.
Canadian e-commerce giant Shopify Inc reported a
46% rise in quarterly revenue as consumer spending "normalizes"
after a year of a pandemic-fueled online shopping frenzy. Its
shares ended up 7%.
Shares of Canada's No. 2 oil and gas major Suncor Energy Inc
jumped 13.4% after the company doubled its dividend. A
rebound in crude prices from pandemic-driven lows helped it post
a third-quarter profit compared with a year-ago loss.
The energy sector rose 4.6% to the highest level since April
2019, while the technology group added 3.1%.
Canada's GDP report for August is due on Friday, which could
offer clues on the strength of the domestic economy.
On Wednesday, the Bank of Canada signaled it could hike
interest rates as soon as April 2022 and said inflation would
stay above target through much of next year, due to higher
energy prices and supply bottlenecks.
(Reporting by Fergal Smith; Additional reporting by Amal S in
Editing by Marguerita Choy)