(Updated at 10:22 a.m. ET)

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TSX up 0.2%

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Enbridge ( ENB ) to form natural gas supply venture

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Canada Goose to reduce 17% of corporate workforce

By Johann M Cherian

March 26 (Reuters) - Canada's resources-heavy stock

index inched higher on Tuesday, with precious metals miners and

healthcare stocks in the lead, while Athabasca Oil ( ATHOF ) was among the

top losers after a brokerage downgraded the oil explorer.

At 10:22 a.m. ET (1422 GMT), the Toronto Stock Exchange's

S&P/TSX composite index was up 33.23 points, or 0.15%,

at 21,975.51.

The TSX is set to end the first quarter of 2024 on an upbeat

note, with energy and industrials among top gainers.

"The earnings have been strong in the first quarter and we

haven't seen any major company come out with significant

warnings," said Barry Schwartz, chief investment officer and

portfolio manager at Baskin Financial Services.

"For Canadian markets, the next driver is really interest

rate cuts."

Traders are pricing in a 51.7% chance that the Bank of

Canada could deliver its first interest rate cut of 25 basis

points in June.

Investors also look forward to the February U.S. personal

consumption expenditure data, the Federal Reserve's preferred

inflation gauge, on Friday, which could help determine the

outlook for interest rate cuts expected later in the year.

Back home, the materials sector rose 0.8%,

tracking stronger gold and silver prices as a weaker U.S. dollar

made the metals cheaper for holders of other currencies. The

appeal for safe-haven assets also increased ahead of the crucial

U.S. inflation data.

The healthcare sector outperformed the broader

market with a 1.8% gain.

Company-wise, luxury parka maker Canada Goose said

it would trim about 17% of its global corporate workforce as

part of efforts to rein in costs. Its shares reversed early

gains and were last down 3.2%.

Enbridge ( ENB ) said it would form a natural gas supply

venture connecting Permian supplies to the U.S. Gulf Coast.

Shares of the pipeline operator slipped 0.5%.

Athabasca Oil ( ATHOF ) dropped 1.6% after RBC downgraded the

stock to "sector perform" from "outperform".