• TSX ends up 0.9% at 23,211.17
• Dollarama jumps 8.2% on earnings beat
• Energy snaps its losing streak
• Uranium miners rally

Sept 11 (Reuters) - Canada's main stock index rose to a near two-week high on Wednesday, led by shares of Dollarama, as investors bet on the economy avoiding recession even if the Federal Reserve opts against an oversized interest rate cut.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 208.08 points, or 0.9%, at 23,211.17, its highest closing level since Aug. 29.

U.S. benchmark the S&P 500 index also rose as a boost from the technology sector offset investor disappointment with inflation data. The data crushed hopes the Fed would cut interest rates by half a percentage point rather than quarter a percentage point next week.

"The 50-basis-point cut that some participants were wishing for isn't necessary given the context of other economic information that supports a resilient economy," said Ian Chong, a portfolio manager at First Avenue Investment Counsel.

"We are not heading towards a hard landing or a recession but moderating lower toward a soft landing scenario."

All ten major sectors rose, led by a 3.7% gain for consumer discretionary as Dollarama Inc (DOL.TO) , opens new tab beat second-quarter profit estimates. Shares of the retail chain company jumped 8.2%.

Technology also stood out, rising 1.6%, while energy snapped a 7-day losing streak as the price of oil settled 2.4% higher at $67.31 a barrel.

Uranium mining shares climbed, with Denison Mines Corp (DML.TO) , opens new tab up 5.9% and Cameco (CCO.TO) , opens new tab adding 5.7% as Russian President Vladimir Putin said that Moscow should consider limiting exports of uranium, titanium and nickel in retaliation for Western sanctions.

Around 100 business groups on Wednesday urged Ottawa to prevent a strike by Air Canada (AC.TO) , opens new tab pilots, saying a stoppage would disrupt supply chains and spoil Canada's reputation as a reliable partner. The airline's shares were up 1.9%.

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https://www.reuters.com/markets/tsx-futures-flat-investors-await-us-inflation-data-2024-09-11/