* TSX rises to one-week closing high
* Thomson Reuters rises on profit beat
* Canadian factory PMI rises in October
* Canada Goose slips on forecast cut
* First Quantum extends declines
Nov 1 (Reuters) - Canada's main stock index closed at a one-week high on Wednesday, helped by gains in the utilities sector, with the overall sentiment supported by expectations that interest rates have peaked, which encouraged investors to buy some recently battered stocks.
The Toronto Stock Exchange's S&P/TSX composite index provisionally closed up 205.53 points, or 1.09%, at 19,079.00, notching its third day of gains and its highest finish since last Wednesday.
The U.S. Federal Reserve kept interest rates unchanged on Wednesday as expected and Fed Chair Jerome Powell said policy makers would proceed carefully although they were not yet confident financial conditions were restrictive enough to get inflation as low as the central bank would like.
Last week, the Canadian central bank also kept interest rates steady and said the past 10 rate increases are working to cool the economy.
In Canada, the manufacturing PMI rose in October for the first time in three months, but the sector remained in contraction as output along with new orders declined and cost pressures rose, data showed on Wednesday.
"The hiking cycle is over and the question now becomes when will we see rate cuts," said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.
"But I don't think anything (rate cuts) will happen, at least until spring or summer of next year," Small added.
First Quantum Minerals dropped 8%, taking its three-day fall to about 53%, on jitters over the Panama government's decision to hold a referendum to decide whether to revoke the Canadian miner's Cobre mine permit.
Parka maker Canada Goose shed 8.8% after the company
cut its annual sales forecast
in a sign that a sharp rebound in China was starting to falter and sales in the U.S. stayed under pressure.
Thomson Reuters shares rose 2% after the parent company of Reuters News reported higher-than-expected third-quarter profit and announced a new $1 billion share repurchase program.
Centerra Gold jumped 9.0% after the gold miner beat third-quarter revenue estimates and posted quarterly profit compared to a loss in the previous year.
The utilities index advanced 3.7%, leading sectoral gains as Brookfield Infrastructure Partners rose 9.0% after reporting higher revenue in the third quarter.
The energy sector climbed 1.0% following an over 2% rise in crude prices as the conflict in the Middle East remained in focus.
(Reporting by Khushi Singh in Bengaluru; Editing by Shilpi Majumdar and Lisa Shumaker)
