Dec 15 (Reuters) - Futures for Canada's main stock index rose on Monday, supported by higher precious metal prices, while investors awaited domestic inflation print due later in the day.
December futures on the S&P/TSX index SXFcv1 were up 0.64% as of 05:54 a.m. ET.
The Canadian benchmark index .GSPTSE fell on Friday, led by technology stocks as Broadcom and Oracle stoked concerns of an AI bubble. This erased much of TSX's weekly gains that were buoyed by the Federal Reserve's rate cut and rising gold prices.
The index had outperformed two of the three major Wall Street indexes last week.
Canada's inflation data is due at 08:30 a.m. ET, and is expected to show a rise of 2.3% on an annual basis for November after easing to 2.2% in October. The CPI has stayed close to the higher end of Bank of Canada's target of 2% and it expects some choppiness in headline data that would push inflation higher in the near term.
Gold XAU= gained 1% supported by a weaker dollar, while silver XAG= hovered near its all-time record. Oil LCOc1, CLc1 also rose as concerns about supply disruption linked to U.S.-Venezuela tensions were balanced by oversupply concerns due to a potential Russia-Ukraine peace deal.
Among corporate updates, Australia's Fortescue FMG.AX said it would buy the remaining 64% of Alta Copper ATCU.TO in a deal valued at C$139 million ($101 million).
Chinese metals miner and processor CMOC Group 603993.SS said its unit CMOC Ltd plans to buy Leagold LatAm Holdings B.V. and Luna Gold Corp from Canada's Equinox Gold Corp EQX.TO for a combined $1.015 billion.
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(Reporting by Avinash P in Bengaluru; Editing by Leroy Leo)
((Avinash.P@thomsonreuters.com))
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