• TSX ends up 0.5% at 25,051.68
• Technology rises 1.8%
• Materials group adds 1.7%

Jan 8 (Reuters) - Canada's main stock index ended higher on Wednesday, led by gains for technology and metal mining shares, as investors set aside recent caution that has been driven in part by rising prospects of U.S. trade tariffs.

The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 121.79 points, or 0.5%, at 25,051.68, after two straight days of declines.

It outperformed major U.S. indices which tend to have a higher weighting in high-flying technology companies.

"It's encouraging for Canada because sentiment towards Canada has been cautious to say the least for quite some time," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

"It's nice to see that perhaps some of the pressure on Canada might be starting to ease a bit."

A report said that U.S. President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries.

Previously, Trump has threatened to impose a 25% tariff on imports from Canada.

The U.S. 10-year yield rose to its highest since April on concerns that policies such as trade tariffs could reignite inflation.

The Toronto market's technology sector rose 1.8%, clawing back some of the previous day's sharp decline. Gains were led by electronics firm Celestica Inc (CLS.TO) , opens new tab, which ended 4.6% higher.

The materials group, which includes fertilizer companies and metal mining shares, added 1.7% as gold and copper prices rose.

Shares of gold producer K92 Mining (KNT.TO) , opens new tab jumped nearly 16% after the company reported record quarterly production.

Heavily weighted financials added 0.6%, while energy ended near flat as oil settled 1.25% lower at $73.32 a barrel, giving back some of its recent gains.

U.S. crude oil imports from Canada rose last week to the highest on record, data from the U.S. Energy Information Administration showed, ahead of expected trade tariffs.

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https://www.reuters.com/markets/tsx-futures-flat-after-report-trumps-plan-new-tariffs-2025-01-08/