CANADA STOCKS-TSX closes flat; mining, energy shares rally

Jan 27 (Reuters) - Canada's main stock index recovered earlier losses to close slightly higher on Tuesday, helped by a rise in oil and gold stocks, ahead of interest rate decisions from the U.S. Federal Reserve and the Bank of Canada later this week.

The S&P/TSX Composite Index .GSPTSE closed up 3.08 points, or 0.01%, at 33,096.40.

The energy index .SPTTEN rose 1.08% as crude prices advanced after a winter storm disrupted Gulf Coast crude production and refineries.

The gold-focused index .SPTTGD recovered from losses earlier in the day, closing 0.45% higher on the back of skyrocketing precious metal prices. The broader materials index .GSPTTMT, which houses miners, gained 0.4%.

An index of consumer staples .GSPTTCS fell 2.22%, with Metro MRU.TO dipping 5.4% after the supermarket operator's first-quarter profit marginally missed analysts' estimates. The financial index .SPTTFS fell 0.2%.

Looking ahead, the Bank of Canada is set for its interest-rate decision on Wednesday. Economists polled by Reuters expect the central bank to keep policy rate unchanged at 2.25%.

"It could be a 'hold' for a while... until we find out what's happening with the free trade agreement," Laura Lau, chief investment officer at Brompton Funds, said.

The Fed is also widely expected to keep the rates unchanged on Wednesday.

Big Tech earnings are also on the way, with Microsoft and Meta set to report quarterly results later this week. On Wall Street , the Nasdaq touched its highest level since late October while the S&P 500 touched an intraday record high and neared the 7,000 milestone.

Among other stocks on the TSX, Cogeco Communications CCA.TO fell 5.9%, making it the biggest loser for the day, after investment fund La Caisse said on Monday it will sell a part of its stake in the telecom firm.