June 27 (Reuters) - Canada's main stock index rose on Thursday amid broad gains, led by energy shares tracking higher oil prices, while investors awaited key U.S. inflation data due this week to get more hints on the Federal Reserve's monetary policy outlook.
At 10:28 a.m. ET (14:28 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab was up 91.53 points, or 0.42%, at 21,885.43.
All sectors except capped communications (.GSPTTTS), opens new tab were trading in green, after Canadian yields edged lower as investors hoped for a July rate cut despite hotter-than-expected inflation figures earlier this week.
"Even with the disappointing data, inflation is still below 3% and we do think inflation will work its way down", said Douglas Porter, chief economist at BMO Capital Markets
"There's still a possibility they could cut rates in July."
Money markets see a 38% chance of the Bank of Canada delivering another rate cut next month after one earlier in June.
Markets will now shift focus to the U.S. Personal Consumption Expenditure (PCE) price index data due Friday, which will provide triggers for recalibrating rate expectations, while also monitoring the May GDP figures for Canada.
The energy sector (.SPTTEN), opens new tab led sectoral gains with a 1% jump. Oil prices climbed after supply risks from rising tensions in the Middle East countered demand fears in the United States amid a surprise build in stockpiles.
The materials sector (.GSPTTMT), opens new tab was up 0.3% as copper and gold prices rose against a weaker dollar.
In individual stocks, BlackBerry (BB.TO), opens new tab was up 14.8% as the company beat first-quarter revenue estimates on Wednesday on robust demand for cybersecurity services in the wake of growing online threats.
On Wall Street, all main indexes fell as Micron Technology (MU.O), opens new tab dropped after a muted forecast that weighed on some semiconductor stocks.
Reporting by Nikhil Sharma in Bengaluru; Editing by Vijay Kishore and Shreya Biswas
