March 24 (Reuters) - Futures linked to Canada's resource-driven stock index slid on Tuesday, as the brief relief from U.S. President Donald Trump's five-day pause on strikes against Iran's energy infrastructure faded, with investors still gripped by uncertainty over the war in the Middle East.
June futures on the S&P/TSX composite index were down 0.5% as of 06:02 a.m. ET (1002 GMT).
Oil prices firmed on the day on supply concerns after Iran denied holding talks with the U.S. to end the Gulf war, contradicting Trump's comments that a deal could be reached soon.
Now in its fourth week, the war has crippled key energy infrastructure across the Middle East and brought shipping through the Strait of Hormuz close to a standstill.
With crude among Canada's key exports, the country's stock market is especially vulnerable to shifts in oil prices, and the war has intensified inflation fears by lifting global energy costs.
Gold also pared some losses after a steep drop earlier in the session, as investors remained on edge over the conflict. Spot gold slipped 0.2% after touching its weakest level since November 24. Gold miners make up a significant portion of the TSX.
On Monday, the benchmark index (.GSPTSE), notched its biggest gain in five weeks, lifted by hopes of easing Middle East tensions. That optimism, however, proved short-lived.
In corporate news, TransAlta Corp (TA.TO), which owns a fleet of power-generation assets across Canada, will be in focus after National Bank of Canada upgraded its stock to "outperform" from "sector perform". Jamieson Wellness Inc (JWEL.TO), opens new tab also drew attention as CIBC initiated coverage with an "outperformer" rating and a price target of C$43 ($31.27).
CLICK ON CODES:
TSX market report
Canadian dollar and bonds report CA/
Reuters global stocks poll for Canada ,
Canadian markets directory
($1 = 1.3750 Canadian dollars)
Reporting by Rashika Singh in Bengaluru; Editing by Sahal Muhammed
