CANADA STOCKS-TSX rises as US data firms Fed rate cut bets

(Updated at 10:11 a.m. ET/ 1511 GMT)

By Nikhil Sharma

Nov 13 (Reuters) - Canada's main stock index rose slightly on Wednesday after a rally in the previous session, as U.S. inflation data reinforced expectations for a Federal Reserve interest-rate cut next month.

The S&P/TSX composite index was up 15.64 points, or 0.06%, at 24,983.65, hovering near a record high it hit on Tuesday.

Markets focused on data from the U.S. consumer price index (CPI) that rose 0.2% for the fourth straight month. In the 12 months through October, the CPI advanced 2.6% after climbing 2.4% in September.

Traders see an 82.8% likelihood of a 25-basis-point rate cut at the Fed's December policy meeting, up from 63% bets seen earlier in the day.

However, global investors expect President-elect Donald Trump's proposed economic policies to stoke inflation, potentially impeding the Fed's path to lower interest rates.

Wall Street's main indexes also inched up on Wednesday after the inflation data.

"I think we're mostly following the U.S. market today," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

"Things just seem to be kind of settling out after all the humongous moves we've seen over the last week."

Trump's reelection sparked a global stock market rally last week, on the hopes that his proposed tax cut policies and looser regulations could benefit corporations.

Canada's technology sector rose 1.2%, after it hit a record high in the previous session following Shopify's (SHOP) strong quarterly results.

The energy sector became the biggest decliner, sliding 0.5%, after oil prices fell to near a two-week low on a gloomy global demand outlook.

At least nine sectors nursed losses on the index.

Among individual stocks, Loblaw Companies' (LBLCF) shares fell 1% after the retailer missed third-quarter revenue estimates, hurt by a slowdown in demand.

Finning International (FINGF) dropped 11% to the bottom of the index after the Caterpillar dealer also missed its third-quarter revenue estimates. (Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)