Updates at market close

By Fergal Smith

Dec 11 (Reuters) - Canada's main stock index rose on Wednesday, led by resource stocks, as investors cheered the Bank of Canada's latest outsized interest rate cut and shook off a possible disconnect between the performance of the market and the economy.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 153.37 points, or 0.6%, at 25,657.70, moving closer to Friday's record closing high.

Year-to-date, the market is up 22.4%, including 6.2% since the start of November.

"Just based on recent performance ... the market still seems to be pretty euphoric," said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.

"You look at the Bank of Canada's 50-basis-point rate cut today that's not something that happens if it's full steam ahead for the economy."

The Bank of Canada slashed its benchmark rate by half a percentage point to 3.25% to help address slower economic growth, and its governor, Tiff Macklem, said that the possibility of new tariffs under U.S. President-elect Donald Trump on imports from Canada represented "a major new uncertainty."

"There is a little bit of disconnect between the performance of the TSX and the economy. 2025, by that token, could very well be a year when investors face a reality check and reassess where we go from here," Picardo said.

The materials sector, which includes fertilizer companies and metal mining shares, rose 2.1% as the price of gold XAU= climbed.

Oil CLc1 settled up 2.5% at $70.29, which helped energy notch a gain of 1.4%. Technology also added 1.4%.

Shares of pharmaceutical company Bausch Health Companies BHC.TO dropped 9.1% after a report said Blackstone BX.N may exit a group bidding for eye care firm Bausch + Lomb Corp BLCO.TO.

Bausch Health owns a controlling interest in Bausch + Lomb.

(Reporting by Fergal Smith in Toronto and Ragini Mathur in Bengaluru; Editing by Vijay Kishore and Alistair Bell)

((fergal.smith@thomsonreuters.com; +1 647 480 7446))