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TSX ends up 0.6% at 21,970.11

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Commodity-linked shares gain

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Oil settles 2.8% higher

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Gold and copper prices climb

(Adds investor quotes)

By Fergal Smith

March 13 (Reuters) - Canada's commodity-linked main

index advanced on Wednesday for a third straight day, benefiting

from higher commodity prices and the continued expectation that

central banks will move this year to lower interest rates.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 139.09 points, or 0.6%, at 21,970.11, its

highest closing level since April 2022.

"There is still momentum here ... despite the fact that we

haven't seen rate cuts, I think the market has come to an

appreciation that we're at peak rates," said Sadiq Adatia, Chief

Investment Officer, BMO Asset Management.

Investors have stuck with bets that the Federal Reserve

and Bank of Canada will begin interest rate cutting campaigns in

the coming months despite data on Tuesday showing a faster pace

of U.S. inflation.

The continued strength of the jobs market, which can

discourage rate cuts, has also been a tailwind for the market,

Adatia said.

The materials group, which includes precious and base metals

miners and fertilizer companies, rose 3% as gold and copper

prices climbed. The move for copper came as Chinese smelters,

which process half of the world's mined copper, agreed on a

joint production cut.

The price of oil also rose, settling 2.8% higher at $79.22 a

barrel. That helped lift the energy sector to a 1.7% gain, while

technology added 0.8%.