CANADA STOCKS-TSX rises for fifth day on interest rate optimism

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TSX ends up 0.2% at 20,057.89

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Technology rallies 2.1%

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Utilities sector gains 1.2%

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Metro falls 6.8% after reporting earnings

(Updates at market close)

By Fergal Smith

Nov 15 (Reuters) - Canada's main stock index extended its winning streak on Wednesday as optimism that interest rates have peaked boosted technology shares, while food retailers lost ground after reporting quarterly results.

The Toronto Stock Exchange's S&P/TSX composite index ended up 34.16 points, or 0.2%, at 20,057.89, its fifth straight day of gains and its highest closing level since Sept. 20.

Investors remained optimistic that borrowing costs could ease from current levels after data on Tuesday showed U.S. inflation cooling more than expected.

"My sense is that (bond) yields are going to continue to move lower," said Mike Archibald, a portfolio manager at AGF Investments. "That's going to be good for risk and I think it is going to be constructive for technology."

Lower yields increase the attractiveness to investors of the future cash flows that technology and other high growth companies are expected to produce.

The Toronto market's technology sector added 2.1%, while utilities rose 1.2% and heavily-weighted financials ended 0.4% higher.

Energy was a drag, falling 1.2%, as oil settled down 2% at $76.66 a barrel. Oil was pressured by a bigger-than-expected rise in U.S. crude inventories and record U.S. crude production.

Consumer staples was another weak spot, falling 2.6%, as investors weighed the results of major food retailers. Metro Inc shares fell 6.8% and shares of Loblaw Companies Ltd gave back their earlier gains to end 2.2% lower. (Reporting by Fergal Smith in Toronto and Johann M Cherian in Bengaluru; Editing by Tasim Zahid and Alistair Bell)