December futures on the S&P/TSX index were up 0.6% at 7:13 a.m. ET (1213 GMT), mirroring gains in their U.S. counterparts. [.N]

The Fed left interest rates unchanged on Wednesday and U.S. central bank chief Jerome Powell said the historic tightening of monetary policy is likely over as inflation falls faster than expected and with a discussion of cuts in borrowing costs coming "into view."

17 of 19 Fed policymakers seeing rates lower by the end of 2024, and none seeing them higher.

Joining in on the cheer, most base metals and gold prices rallied, while crude oil prices advanced on a bigger-than-expected weekly withdrawal from U.S. crude storage and a weaker dollar. [GOL/] [MET/L] [O/R]

The Toronto Stock Exchange's S&P/TSX composite index ended at its highest level in three months on Wednesday, with real estate and the utilities leading gains.

Among individual stocks to look out for, exchange operator TMX Group said it had acquired an around 78% stake in U.S. data analytics company VettaFi Holdings for $848 million (C$1.14 billion).

Pembina Pipeline said it would buy Enbridge's interests in the Alliance Pipeline, Aux Sable and NRGreen joint ventures for C$3.1 billion ($2.30 billion).

Canadian Natural Resources expects production to increase in 2024, while Cenovus Energy forecast higher capital expenditure in 2024.


Gold futures: $2,040.7; +2.7% [GOL/]

US crude: $70.67; +1.7% [O/R]

Brent crude: $75.57; +1.8% [O/R]

($1= C$1.3446)

(Reporting by Shashwat Chauhan in Bengaluru;Editing by Ravi Prakash Kumar)