CANADA STOCKS-TSX rises on potential US-China trade de-escalation; Fed meet in focus

May 7 (Reuters) - Canada's main stock index rose on Wednesday as hopes of a de-escalation in the U.S.-China trade war firmed, while investors awaited the Federal Reserve's interest rate decision due later in the day.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE mirrored gains in its Wall Street peers, advancing 0.3% to 25,055.30 points.

Washington announced late on Tuesday that representatives of the U.S. and China will meet over the weekend in Switzerland for talks, which could lead to the first step in resolving a trade war disrupting the global economy.

"If we have a positive day in the U.S., we may have a moderately positive day in Canada," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Meanwhile, Canadian Prime Minister Mark Carney visited the White House on Tuesday for his first meeting with U.S. President Donald Trump and termed the discussion as constructive.

Trump told reporters the meeting was "great," noting that he and Carney got along. However, he provided no details on any potential shifts in the trade policy between the two nations.

"For Canada, what's more important was the meeting between Prime Minister Carney and President Trump yesterday, of which nothing much really came out, but the good news is that things didn't get any worse either," Cieszynski added.

Separately, the U.S. Fed is scheduled to announce its policy decision on Wednesday afternoon, when it is widely expected to hold interest rates steady.

On the TSX, material stocks .GSPTTMT slid nearly 1% after gold prices fell more than 1%.

Energy-related stocks .SPTTEN also dipped 1%.

Conversely, information and technology stocks .SPTTTK gained 1.1%.

On the corporate front, Barrick Mining ABX.TO reported a first-quarter profit that beat analysts' estimates, driven by a rise in gold prices.