News: PDN CANADA STOCKS-TSX starts off week higher as commodity-linked shares rise

	  Fission Uranium jumps on Paladin Energy buyout offer 

	  TSX up 1.2% after fifth consecutive weekly decline  

(Updated at 10:19 a.m. ET/ 1419 GMT)

Canada's main stock index rose on Monday, lifted by gains in materials and utilities stocks, while investors awaited a slew of domestic and U.S. inflation data along with commentary from Federal Reserve officials throughout the week.

At 10:19 a.m. ET (1419 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 247.55 points, or 1.2%, at 21802.41, coming off its fifth straight weekly loss.

Among the top sectoral gainers were utilities .GSPTTUT , up 1.5%, while the energy sector .SPTTEN advanced 2%, supported by stronger oil LCOc1 , CLc1 prices.

The material index .GSPTTMT , which houses Canada's major gold miners, gained close to 1% as bullion prices XAU= ticked up amid easing U.S. Treasury yields.

"If there is a perception that the economy is softening, leading to possible cutting of rates by the Fed, that's when the gold moves higher because it is hedged against the U.S. dollar," said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.

Over on Wall Street, equities were mixed with the Nasdaq .IXIC edging lower as bellwether Nvidia and other chip stocks remained under selling pressure.

Investors back home will be watching out for domestic consumer price index (CPI) numbers expected on Tuesday, which could provide further assurance to the Bank of Canada's (BoC) policymakers to reduce borrowing costs.

Traders are pricing in a 72.6% chance of another cut by the central bank at its next meeting scheduled on July 24.

Investors would also look out for comments from BoC Governor Tiff Macklem who is scheduled to speak at the Winnipeg Chamber of Commerce later in the day.

Globally, the focus will remain on U.S. Personal Consumption Expenditures (PCE) data and Fed officials' comments throughout the week that could provide hints on the central bank's rate outlook.

Among individual stocks, Fission Uranium Corp FCU.TO jumped 14.6% after Australian miner Paladin Energy (PDN) offered C$1.14 billion ($834.43 million) to buy the company.