(Updated at 10:18)

By Nikhil Sharma

June 20 (Reuters) - Canada's main stock index rose on

Thursday as higher commodity prices lifted mining and energy

shares.

At 10:18 a.m. ET (14:18 GMT), the Toronto Stock Exchange's

S&P/TSX composite index was up 114.33 points, or 0.5%,

at 21,631.23.

Wall Street also jumped, propelled by a rally in

chipmaker Nvidia's shares.

The energy sector was up 1.1%, supported by strong

oil prices as escalating Middle East conflict

raised supply disruption fears and investors awaited U.S.

inventory data.

The materials sector climbed 1.2% as gold

prices hit a two-week high, with recent U.S. economic data

raising rate-cut bets and uncertainty around multiple global

elections lending support.

"Commodity prices are up a little bit, then the US is up a

little bit. So we may see the Canadian market bounce back a

bit." said Colin Cieszynski, chief market strategist at SIA

Wealth Management.

"The Canadian market is pretty quiet but it'll probably be

more active next week when the inflation numbers come out on

Tuesday." Cieszynski added

Among Thursday's data, U.S. weekly jobless claims fell last

week, but overall strength in the labour market persisted

despite a gradual cooling.

The Bank of Canada eased its monetary policy earlier this

month and its officials said on Wednesday the Canadian central

bank will look at additional monthly CPI data to gain assurance

before cutting rates in July.

Traders are now pricing in a 60% chance of a rate cut in

July, according to LSEG data.

In individual stocks, Empire Company ( EMLAF ) shares rose

5.9% after it reported better-than-expected earnings in the

fourth quarter.