Dec 9 (Reuters) - Futures tied to Canada's main stock index rose on Monday, helped by oil and metal prices, while investors looked ahead to this week's Bank of Canada's interest rate decision.
December futures on the S&P/TSX index were up 0.36% at 6:01 a.m. ET (11:01 a.m. GMT).
The Bank of Canada is expected to cut the interest rate by half a percentage point on Wednesday, marking its second consecutive rate cut of such magnitude.
Bets for a hefty cut jumped after Friday's data showed a sharp rise in the unemployment rate, with nearly 80% of respondents in a Reuters poll predicting a 50 bps cut on Dec. 11 to 3.25%.
In commodities, oil prices jumped after China flagged its first move toward a loosened monetary policy since 2010.
Gold prices climbed after China's central bank resumed gold purchases after a six-month pause, while copper hit nearly a one-month high after the second-largest economy vowed to ramp up stimulus measures. GOL/MET/L
The composite index (.GSPTSE), opens new tab ended higher on Friday, boosted by technology shares and anticipation of a large interest rate cut from the BoC.
Across the border, market participants are eyeing Wednesday's U.S. inflation data to gauge the pace of the Federal Reserve's rate cuts.
The market bet on an 87% probability of a quarter-point cut at next week's policy meeting, while expecting about an 89-basis-point cut by the end of next year.
Wall Street futures were subdued on Monday.
In corporate news, Swedish mining group Boliden (BOL.ST), opens new tab agreed to buy Lundin Mining's (LUN.TO), opens new tab Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden.
COMMODITIES
Gold : $2,657.47; +0.93%
US crude : $67.92; +1.07%
Brent crude : $71.77; +0.91%
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($1 = 1.4133 Canadian dollars)
Reporting by Ragini Mathur; Editing by Vijay Kishore
