• TSX ends up 0.6% at 18,856.76
• Financials add 1.4%; tech ends 2.1% higher
• First Quantum tumbles on Panama referendum
• Oil settles 3.8% lower at $82.31 a barrel

Oct 30 (Reuters) - Canada's main stock index rose on Monday after eight straight days of decline, helped by gains for financial and technology shares as investors awaited data that could offer clues on the strength of the domestic economy.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 119.37 points, or 0.6%, at 18,856.76, recovering some ground after it posted on Friday its lowest closing level in one year.

Canadian GDP data for August, due for release on Tuesday, is expected to show an increase of 0.1%.

"There is a lot of fear that Canada is already getting close to entering a recession, so the GDP number is going to be important," said Greg Taylor, chief investment officer at Purpose Investments.

Wall Street also rallied at the start of what promises to be a hectic week, including the Federal Reserve's two-day monetary policy meeting.

The Toronto market's industrials sector rose 1.5% and heavily-weighted financials advanced 1.4%. Technology was up 2.1%, with BlackBerry Ltd (BB.TO) adding 6.4% after a report that CEO John Chen has resigned.

The materials sector (.GSPTTMT), which includes precious and base metals miners and fertilizer companies, lost 3.3%.

It was pressured by a 28.5% tumble in the shares of First Quantum Minerals Ltd (FM.TO) after Panama's government said it will hold a referendum on whether to scrap a mining contract awarded to the company earlier this month.

Energy was also down, falling 0.3%, as the price of oil settled 3.8% lower at $82.31 a barrel.

"This slide in oil prices means that geopolitical angst won't be enough to send prices higher," Edward Moya, senior market analyst at OANDA, said in a note.

"Too much demand destruction is happening and the oil market is losing its tightness despite all the risks to supply flows that remain on the table."

https://www.reuters.com/markets/toronto-stocks-open-higher-after-eight-sessions-declines-2023-10-30/