Jan 13 (Reuters) - Canada's main stock index inched to a record high on Tuesday, driven by gains in energy and mining stocks, while investors assessed U.S. inflation data for clues on the Federal Reserve's interest-rate path.
The S&P/TSX Composite index (.GSPTSE), edged 0.2% higher to 32,924.5 points as of 10:43 a.m. ET, briefly touching an intraday record of 32,978.58 points earlier in the session.
The energy sector (.SPTTEN), gained 2%, tracking an advance in crude oil prices, as concerns about potential supply disruptions due to unrest in Iran overshadowed the prospect of increased output in Venezuela.
The materials sub-index (.GSPTTMT), which houses precious metal miners, jumped 1.2% to a fresh peak after both gold and silver hit record highs.
Miner SSR Mining (SSRM.TO), and oil producer Cenovus Energy (CVE.TO), were the top gainers on the TSX, rising around 4% each.
However, industrials (.GSPTTIN), fell 0.9% and financial stocks (.SPTTFS), lost 0.3%, keeping broader index gains in check.
On the data front, U.S. consumer prices in December increased in line with expectations, cementing bets that the Fed would keep interest rates unchanged at its meeting this month, but also leaving room for rate cuts later in the year.
"Central banks have indicated that they can be very much data-driven. If the data stays in line, the probability of cuts is there," said Shiraz Ahmed, founder of Sartorial Wealth.
In Canada, jobs data from last week did little to alter traders' expectations that the country's central bank would leave rates unchanged at its own policy meeting this month.
Canada is also seeking to diversify trade away from its main market, the U.S., due to uncertain trade policies. Prime Minister Mark Carney is expected to arrive in China on Tuesday in what will be the first visit by a Canadian leader to the Asian nation since 2017.
Reporting by Utkarsh Tushar Hathi in Bengaluru; Editing by Jonathan Ananda
